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...
Wave B seems to have ended due to irregular correction and we should expect wave C to be in the range of 1.618 Fibonacci from the previous wave.
We should also pay attention to the positive divergence in MACD and the double top pattern in RSI.
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