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 built on the Heco blockchain that allows users to trade a variety of assets, including cryptocurrencies and NFTs, in a trustless and permissionless manner. Mdex’s unique features include a liquidity pool system that incentivizes liquidity providers with rewards, as well as a decentralized governance system that enables community members to participate in decision-making processes. Additionally, Mdex has partnered with several prominent blockchain projects to expand its ecosystem and offer more value to users.
Mdex (HECO) Price Overview:
As of October 02, 2023, Mdex (HECO) is trading at approximately 0.0662 USDT. Let’s dive into the detailed price action for MDX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0659 |
| High (H) | 0.0663 |
| Low (L) | 0.0645 |
| Close (C) | 0.0662 |
| Volume (C) | 9,122,835.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0659 USDT.
- High (H): Mdex (HECO) reached a daily high of around 0.0663 USDT.
- Low (L): The daily low for MDX-USDT was approximately 0.0645 USDT.
- Close (C): At the time of analysis, Mdex (HECO) is trading near its daily close of 0.0662 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.46% |
| 3D Change (%) | 1.85% |
| 7D Change (%) | 5.92% |
| 30D Change (%) | 4.25% |
| 90D Change (%) | -6.36% |
| YTD Change (%) | -4.61% |
Over the past three days, MDXUSDT has increased by approximately 1.85%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 5.92%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MDXUSDT maintaining an upward trend of approximately 4.25%, despite intermittent fluctuations. Examining the last 90 days, MDXUSDT has witnessed substantial decline of approximately -6.36%, reflecting strong long-term confidence. Year-to-date, MDXUSDT has steadily decreased by around -4.61%, 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 0.31202.
- Momentum score is 0.04252.
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 9,122,835.00 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Mdex (HECO) is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MDX-USDT is currently in the neutral zone, around 51.39096. 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 bullish 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.
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.
