Mdex (Binance: MDXBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, MDX began a red wave one advance on May 24. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on June 1 and the red wave two (blue sub-waves a-b-c) correction ended on June 6. If this wave count is correct, MDX should be heading next towards the June 1 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Mdex is an automated market making (AMM) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with standard DEXs, but differentiating itself from competitors by using a dual-chain model modeled on both the Ethereum network and the Huobi Ecological Chain (HECO). Crypto Pablo reviewed the project back in April this year.
(Sources: https://mdex.com/)How Will Mdex Trade?
Mdex (Binance: MDXBTC) four-hour chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
Prizes
I will be giving upvotes to the correct answers with minimum reputation of 25.
Rules
This poll will expire in one week. Only one vote per person.
Which one will happen first?
Please select one of the three choices and comment below.
MDX will takeout the June 1 peak
MDX will drop below the May 24 low
MDX will stay in a trading range between the May 24 low and the June 1 peak until July 15