Is Mdex (MDX) Heading the Right Direction Thursday?

Thursday, March 28, 2024 10:35 AM | InvestorsObserver Analysts

Mdex receives a weak long-term technical score of 12 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. MDX currently holds a superior long-term technical analysis score than 12% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Mdex a 12 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Mdex!

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Trading Analysis

Mdex's price is $0.0000000 (-5.69%) below its 100-day moving average price of $0.060000000 as its price at the moment sits at $0.060000000. Additionally, MDX is $0.0200000 (-27915.11%) higher than its 52-week low price of $0.040000000 while -$0.04000000 (-10446.03%) under its 52-week high of $0.100000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives MDX an average long-term technical score of 12. Long-term trading movement of Mdex suggest that investors are bearish on the token at the moment. Mdex currently has a total market cap of $55,900,816.90 to go along with its average daily volume of $54,521,088.08 worth of the currency over the past seven days. MDX's volume is below its seven day average as of the past 24 hours, with 7,141,365.21 exchanged in that period. This token's subclass Decentralized Finance: DeFi, or decentrialized finance, Tokens are tokens that are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

MDX's historical trading over the past year gives it a a weak long-term technical score of 12 as its price movement in that time has given investors reason to be bearish on the token in the long-term. Click Here to get the full Report on Mdex (MDX).