Mdex Price Prediction 2021 – Will MDX Hit $5 Soon?
Mdex is a cryptocurrency that was created in 2018. The coin has seen an increase in value since its creation, but the price could go up even further in the future.
The mdex price prediction 2025 is a question that has been asked by many people. It is hard to predict the future, but it seems like there are some good chances for MDX reaching $5 soon.
The range of bullish MDX price predictions is $2.09 to 2.7.
MDX may possibly hit $5 in the near future.
For 2021, the MDX pessimistic market price forecast is $2.66.
We utilize statistics, price analysis, RSI, and other information about MDX to evaluate the cryptocurrency’s future movement in Mdex (MDX) price forecast 2021.
Mdex (MDX) is a decentralized automated market making (AMM) exchange system based on money pools. It functions similarly to some DEX on the market, but it offers and implements a dual-chain DEX model based on the Huobi Eco-Chain and Ethereum on this foundation. It combines the Huobi Eco Chain’s cheap transaction costs with the benefits of Ethereum’s growing ecosystem, and it enables dual liquidity and transaction mining.
At the time of writing, the Mdex price was trading at $2.06, with a 24-hour trading volume of $119,022,535 according to CoinGecko. MDX, on the other hand, has down 0.5 percent in the past 24 hours.
MDX also has a circulating supply of 488,174,476 units. MDX is currently traded on Binance, Huobi Global, HitBTC, Gate.io, and Hoo, among other cryptocurrency exchanges.
Price Prediction for Mdex (MDX) in 2021
On CoinGecko, Mdex (MDX) is now ranked 79th. The MDX price forecast for 2021 is shown here, along with a daily time period.
MDX/USDT Daily Time Frame Price Chart (Source: TradingView)
The two MDX patterns may be seen in the chart above. MDX is initially trading in a pattern of higher highs and higher lows. This pattern indicates an upward tendency, and token values typically rise as a result. At the start of this time, MDX switched from a bearish to a bullish trend, as seen in the chart above. This is due to the high amount of trades that took place during this time period.
The Higher High and Higher Low trend reached a price of $2.66, after which the MDX prices reversed to the bearish side and created the Lower High and Lower Low trend pattern. The price of MDX was bearish at the time, falling to a range of $1.8, which is labeled as the “Selling Climax Zone” on the chart.
When the price of MDX reaches that zone, it stops dropping and enters the “Consolidation Phase,” during which tokens trade in a narrow range ($1.9 – $2.07). The price of MDX is now trading in the $2.01 area. The price of MDX will achieve the goal of $2.66 whenever it breaks $2.01.
Support and Resistance Levels for MDX
MDX support and resistance levels are shown in the chart below.
Support and Resistance Levels for MDX/USDT (Source: TradingView)
The resistance and support levels of MDX are clearly visible in the above daily time period.
$2.09 is the first level of resistance.
$2.25 for Level 2 Resistance
$2.41 is the third level of resistance.
$2.55 – Level 4 Resistance
$1.92 for Level 1 Support
$1.82 for Level 2 Support
Overall, the charts show that MDX’s bearish trend is continuing, and it is conceivable for it to turn around and hit new highs. Furthermore, MDX has been in a bullish trend for the last month, according to the charts. If the current trend continues, MDX may catch up with the bulls and break over the $2.55 barrier mark.
In the event that investors turn against cryptocurrency, MDX’s price may drop to almost $1.82, indicating a negative warning.
Average Directional Index (MDX) Mdex (MDX) Mdex (MDX) Mdex (MDX) (ADX)
Let’s take a look at MDX’s average directional index (ADX). ADX, in general, aids traders in determining the strength of a trend. It may be used to see whether the market is shifting or if a new trend is about to emerge. It has something to do with the Directional Movement Index (DMI).
Furthermore, the oscillator has a range of 0 to 100. A large range suggests a strong trend, whereas a small range shows a weak trend. It is often used in conjunction with directional indicators.
The ADX of the MDX remains in the 31-point area in the preceding chart, indicating a strong bullish trend.
MDX is a cryptocurrency that can keep its flexibility even when the market is down. Our long-term MDX price forecast for 2021 is also optimistic. This year, it has a good chance of surpassing its current all-time high (ATH) of $10.11. However, this only occurs when MDX overcomes a significant amount of psychological resistance.
Furthermore, the MDX ecosystem may have a bright future ahead of it in 2021, because to continuous improvements and enhancements. It may soon hit $5 and even higher levels, but it is more likely to reach $10.5 if investors believe MDX is a solid investment in 2021.
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Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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Frequently Asked Questions
Is Mdex coin a good investment?
No. Mdex coin is not a good investment because it has no use in the real world.