Mdex (MDXUSD) hit and broke above its 1D MA200 (orange trend-line) today for the first time in its trading history. This comes after a prolonged selling sequence starting from the September 06 2021 High, whose Lower Highs trend-line actually broke 3 days ago.
This is a major bullish break-out for this token but in order to be completed we ideally want to see a 1D candle closing above the 1D MA200. In that case, we can target each Fibonacci retracement level but still would be best to avoid the 0.382 - 0.5 Fib Zone due to its High Volatility trading during mid January - April 2022.
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