Hateful Eight: MDX, RUNE, KCS, XDC, SNX, GRT, ONE, KSM

MDX

MDX has been moving downwards since June 1, when it reached an all-time high price of $2.78. The downward movement temporarily halted on June 22, once a low of $1.41 was reached.

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MDX consolidated above this level for 27 days, before finally breaking down. It proceeded to reach a new all-time low price of $1.05 on July 21.

While MDX has bounced slightly, it is not showing any clear bullish reversal signs. The main resistance area is at $1.45.

RUNE

RUNE has been decreasing since July 7, when it was rejected by the $7 resistance area.

So far, it has reached a low of $3.01, doing so on July 20. However, it bounced immediately and is now trading inside the $3.80 horizontal support area.

Despite the bounce, RUNE is still following a descending resistance line. The trend cannot be considered bullish until a breakout above this line transpires.

KCS

KCS has been moving downwards since July 7, when it reached a high of $14.84. The high was made just slightly above the 0.618 Fib retracement resistance level.

The ensuing drop caused the token to validate the $8.60 horizontal support area on July 20. KCS created a bullish engulfing candlestick the next day.

As long as the token manages to hold this support area, the trend can be considered bullish. Conversely, a breakdown below this area would likely cause a revisit of the $5 horizontal support area.

XDC

XDC has been moving downwards since July 3, when it was rejected by the $0.123 horizontal resistance area.

The descent continued until XDC bounced at the $0.068 horizontal support area on July 20. This amounted to a decrease of 46%.

XDC has bounced slightly, but has not shown any bullish reversal signs.

SNX

SNX has been moving downwards inside a descending wedge since July 12, when it reached a high of $13.65. The downward movement continued for 9 days, in which the token lost 49% of its value.

On July 22, SNX bounced at the $7.25 horizontal support area, which is also the 0.786 Fib retracement support level.

It broke out shortly afterwards and has been moving upwards since.

The closest resistance is at $10.45, the 0.5 Fib retracement resistance level.

GRT

GRT has been trading above the $0.53 horizontal support area since May 22. While the area has caused numerous bounces, GRT twice seemed to break down below it, on June 21 and July 20.

However, the token reclaimed the support area both times, initiating a significant upward movement the first time it did so. It has yet to begin increasing after reclaiming the area for the second time.

GRT is also following a descending resistance line that is currently at $0.64.

ONE

ONE has been decreasing alongside a descending resistance line since July 7, when it reached a high of $0.093. The downward movement continued until a low of $0.053 was reached on July 20 (green icon).

The ensuing bounce validated the $0.054 area as support.

ONE has been moving upwards since, but is still trading below the descending resistance line, which now coincides with the 0.382 Fib retracement resistance level at $0.068.

A breakout could cause an upward movement towards the $0.80 region.

KSM

On July 20, KSM reached a low of $142. This purportedly caused a breakdown below the $165 support area.

However, the token reclaimed the level shortly afterwards.

Currently, it is attempting to break out from a descending resistance line that has been in place since July 7.

Doing so would likely take it towards the 0.618 Fib retracement resistance level at $205.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

Hateful Eight: SLP, COMP, SHIB, FLOW, MDX, KCS, SUSHI, STX — Biggest Losers July 23-30

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The past seven days have been bullish for the cryptocurrency industry, with only one token decreasing in double digits. The eight tokens that decreased the most last week were:

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Smooth Love Potion (SLP): -20.82%

Compound (COMP): -6.29%

SHIBA INU (SHIB): -4.53%

Flow (FLOW): -1.84%

Mdex (MDX): -1.56%

Kucoin Token (KCS): -1.49%

SushiSwap (SUSHI): -0.33%

Stacks (STX): -0.10%

SLP

SLP reached a low of $0.21 on July 20 and bounced (green icon). The bounce validated the $0.23 horizontal level as support.

However, the token was rejected by a descending resistance line (red icon) two days later and has been moving downwards since. Since the rejection, it has dropped by 31.76%

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It’s rapidly approaching the $0.23 horizontal level once again.

Whether SLP breaks out above the descending resistance line or breaks down below the horizontal support area will likely determine the direction of the future trend.

COMP

COMP had been decreasing underneath a descending resistance line since July 6. This led to a low of $310 on July 20.

COMP bounced after, validating the 0.618 Fib retracement level as support (green icon). As long as it’s trading above this level, the trend can be considered bullish.

The main resistance area is found at $554. This is the 0.5 Fib retracement resistance level (white) when measuring the entire downward move since May.

SHIB

SHIB has been decreasing alongside a descending resistance line since May 19. On June 12, it reached the $0.00000575 support area and bounced.

However, it returned to the same level two more times, on June 22 and July 20.

SHIB has failed to move above the aforementioned descending resistance line and was recently rejected by it on July 6.

A breakout above the line would likely take SHIB towards the $0.00000930 resistance area. Conversely, a breakdown below the current support area would likely take it to new lows.

FLOW

On July 6, FLOW broke out from a descending resistance line and seemingly initiated an upward move.

However, it was rejected twice by the 0.382 Fib retracement resistance level of $20.62.

FLOW created a higher low on July 20 and moved upwards. It’s currently in the process of breaking out above the aforementioned resistance area at $20.62. If successful, it would likely trigger a sharp move toward $29.86.

MDX

MDX has been decreasing under a descending resistance line since June 1. On July 21, it fell to a new all-time low price of $1.05.

The price bounced after this and approached $1.05 again. However, there are no bullish reversal signs in place, indicating that MDX could fall to a new all-time low soon.

KCS

On July 3, KCS broke out from a descending resistance line. It proceeded to reach a high of $14.84 on July 7.

However, this caused a rejection from the 0.618 Fib retracement resistance level at $14.02 and led to a downward move that took KCS to the $8.50 horizontal support area.

As long as KCS is trading above this level, it’s likely to increase toward the $14.02 resistance area once again.

SUSHI

On June 27, SUSHI broke out from a descending resistance line. It proceeded to reach a high of $9.72 but created a long upper wick, validating the $9.60 area as resistance.

Following this, it bounced at the $6.25 support area only to make another failed attempt at moving above $9.60 and created another long upper wick (red icon).

SUSHI is now trading close to the middle of the $6.25-$9.60 trading range.

STX

STX began an upward move on June 22 and reached a high of $1.47 on July 11. After this, it was rejected by the $1.40 horizontal resistance area and began to move to the downside.

STX created a higher low on July 20 and initiated another upward move, reclaiming the $1.07 support area in the process.

It’s now trading in a range between $1.07 and $1.40.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

MDEX Price Analysis: MDX Coin Price Is Currently Halting Near $1 With A Hint Of Bullish Momentum

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MDEX coin price is currently trading in a downtrend and can hit a low below $1. In contrast, it has seen a loss of more than 3% in the intraday session

Technical indicators for MDX coin suggest consolidation momentum for the future . Meanwhile, the MDX/BTC pair is also seeing a downtrend in the future.

Why Invest In MDX Coin?

MDX coin is currently trading in a downtrend and can hit a new low in the upcoming days. MDEX price is currently trading near the value of $1.12 and has observed a loss of 3.39% in the intraday session.MDEX is an automated market making (AMM) which is working towards the decentralization of assets. The platform has various similarities with DEX but it also differentiates itself by using the Dual chain model on both Ethereum and Huboi Ecological chain models. MDX also benefits from the liquidity of ETH and super low transaction fee HECO. It is currently dominating the DEX market with the volume. MDX coin price is currently in a slump but can soon see revert back to the uptrend. MDX/BTC pair can also observe a strong uptrend in the future. One can invest in MDX as per their risk capacity and positive breakout.

Technical Indicators Suggests A Consolidated Momentum For MDX Coin

Source: Trading view

The weekly technical chart of the MDX coin suggests a downtrend in price for upcoming days. On the daily chart the price is observing a consolidated momentum . Resistance for MDX coin price while going upside can be seen near $2. The bounce back in the coin price while going down can be seen near $1. The asset price is currently below the 50 and 100 Daily Moving Average, with a negative crossover in the past. The 50 DMA is currently near the value of $1.73, making it a temporary hostile region for the price. Mdex price has formed a consolidated momentum on the daily chart. If it breaks above the zone then a strong bullish momentum can be observed. MDX/BTC pair is currently in a downtrend and can revert back to the uptrend.

Conclusion

MDX coin price has given great returns to the investors in the past and can soon see the upturned. Its popularity is increasing among the investors which push the price further high. An Investor should do their due diligence before investing.

Technical Levels

Major Support:$1

Major Resistance:$2

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