In this Mdex (HECO) technical analysis, we will examine the current price action, trading volume, key levels and indicators for MDX-USDT. Mdex (HECO) is a decentralized exchange (DEX) built on the Heco blockchain that offers users a secure and user-friendly platform for trading digital assets. With its innovative liquidity pool model, Mdex provides users with more efficient and cost-effective trading experiences. Additionally, the platform’s unique features such as decentralized risk management and automated market making enable users to trade with confidence and security.
Mdex (HECO) Price Overview:
As of May 10, 2024, Mdex (HECO) is trading at approximately 0.06265 USDT. Let’s dive into the detailed price action for MDX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.06109 |
| High (H) | 0.06298 |
| Low (L) | 0.0608 |
| Close (C) | 0.06265 |
| Volume (C) | 6,742,939.20 |
- Open (O): The opening price for today’s trading session was approximately 0.06109 USDT.
- High (H): Mdex (HECO) reached a daily high of around 0.06298 USDT.
- Low (L): The daily low for MDX-USDT was approximately 0.0608 USDT.
- Close (C): At the time of analysis, Mdex (HECO) is trading near its daily close of 0.06265 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.57% |
| 3D Change (%) | -0.29% |
| 7D Change (%) | 0.14% |
| 30D Change (%) | -16.80% |
| 90D Change (%) | -4.50% |
| YTD Change (%) | -26.55% |
Over the past three days, MDXUSDT has dropped by approximately -0.29%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 0.14%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MDXUSDT maintaining a downward trend of approximately -16.80%, despite intermittent fluctuations. Examining the last 90 days, MDXUSDT has witnessed substantial decline of approximately -4.50%, reflecting strong long-term confidence. Year-to-date, MDXUSDT has steadily declined by around -26.55%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Mdex (HECO) Live Chart:
You can access a live price chart for MDX-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.50124.
- Momentum score is 0.05117.
MDX USDT Technical Analysis
Mdex (HECO) Trading Volume:
The trading volume for Mdex (HECO) (MDX) over the past 24 hours has been insignificant, with approximately 6,742,939.20 USDT traded against MDX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): MDX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Mdex (HECO) is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MDX-USDT is currently in the neutral zone, around 47.35103. This suggests that Mdex (HECO) is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Mdex (HECO) (MDX-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Anticipate potential growth for Mdex (HECO) (MDXUSDT) at 6.26e-02 USDT through positive technical analysis, emphasizing strong support and promising indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.