Decentralized exchange MDEX token MDX USDT price update with interactive visual and analytical tools to study chart patterns. Chart references MDX USDT price live from the Huobi exchange.
About MDEX:
MDEX is an automated-market-making decentralized exchange based on Binance Smart Chain (BSC) and HECO (Huobi Ecological Chain). Users can use MDEX Bridge to realize cross-chain interoperability (or moving of assets) between HECO, ETH, and BSC.
It differentiates itself from competitors by using the transaction fees generated in trading token pairs to be directly reserved in the corresponding LP pools. Other than the standard concepts of liquidity mining, users in MDEX are also rewarded for transaction mining, effectively canceling out the costs of transacting (or even negatively charged) on the network.
Helpful technical indicators to study MDEX (MDX) USDT price movement:
Technical Analysis through the use of charts or volume analysis helps to forecast future MDX USDT price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely MDX USD (or USDT) price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line” is then plotted in addition to the MACD line which together functions as a trigger for buying or selling an asset – MDX.
Traders may buy the decentralized exchange MDEX token MDX when the MACD crosses above its signal line (orange line) and sell, or short the MDX cryptocurrency when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side of zero the MACD lines are. Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero – Above zero for a sustained period of time, and the trend is likely up or Below zero for a sustained period of time, and the trend is likely down.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:
- RSI values of 70 or above indicate that an asset is becoming overbought and prime for a trend reversal or experience correction in the decentralized exchange MDEX token MDX USDT price.
- An RSI reading of 30 or below indicates an oversold or undervalued condition.
Moving average (MA) of MDX USDT price
MA is the average of the closing MDX USD (or USDT) price over a given number of periods. The 200-day simple moving average is one of the most-watched activities in the price charts by mostly all experienced traders. There are two basic signals in relation to the moving average:
- If the price is above the X day SMA, this signals a bullish movement.
- If the price is below the X day SMA, this signals a bearish movement.
MA(50,200) Crossover
Another important signal is a crossover between the 50-day and the 200-day moving averages.
- When the 50-day moving average (MA) crosses above the 200-day MA, it is called a golden cross. It signals that a new bullish MDX USDT price trend is starting.
- When the 50-day MA crosses below the 200-day MA, it is known as the death cross (bearish crossover). This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.
- If OBV is rising and the price isn’t, then the price is likely to follow the OBV.
- In case the decentralized exchange MDEX token MDX USDT price is rising and OBV is flat-lining or falling, the price may be near the top.
- If the token MDX price against USDT is falling and OBV is flat-lining or rising, then the price could be nearing the bottom.
Chart Patterns
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending and Descending)
- Double top and bottom [M (bearish) and W (bullish)]
- Triple Tops (bearish) & Bottoms (bullish)