We will be conducting a macro analysis between the three competitors Nash, Serum, and Idex while analyzing their technical status and comparing all three together in the end.
NEX has been moving inside a healthy range for quite a while and has currently hit the top of the range and has been rejected there again. These rejections at the range highs are getting weaker, and each time NEX hits range lows, it pumps directly up again. As we are currently in a range, the objective is to get out of the range, flip it into support, and finally pump to the horizontal targets above.
The bullish narrative gets supported by the consistent higher lows, which are clear to see on NEX, and the strong volume NEX moves up, but only low volume is needed to get back down.
SRM has been in a relatively strong downtrend for quite a while now and is creating one bear flag after another and has still not broken the HTF downtrend resistance.
A break of such resistance would be the most required move for SRM; otherwise, it will continue this journey back down to listing prices, mostly since no real support or other key-levels are left.
The most recent bear flag, which can be seen right now, has a healthy amount of buy-volume, which can be quite bullish and break out to the upside, especially in combination with quite some bullish news regarding SRM.
IDEX has been ranging for quite a while now and just recently tried to breach the range highs. This level's break is of utter importance yet could not be achieved in this case since it was only the second reach approach to break this key area of resistance.
The volume at the key-area of support is quite strong, yet it was not enough at resistance and has caused a surprisingly illiquid rejection, which could lead to support for the next bounce.
The MKAST Algorithm is currently showing a buy condition, which supports the bullish narrative towards the range of support.
All in all, there is once again a noticeably clear line between all three competitors. NASH is leading the race. It is still in range, where the range highs have been touched and punctured numerous times, making the resistance weaker and weaker, finally leading up to a strong breakout.
Following NASH, there is SRM, which has been down-trending for quite a while, yet with strong developments and community support, the most recent structure has tremendous buy-volume. It is finally setting up for a breach of the downtrend resistance. Such a break could make it a top performer again.
Finally, there is IDEX, which has been moving downwards and started ranging, which is exactly the keyword here – started. The range is very fresh and most likely will continue for a good while, where it has to prove itself, hold support, and continue puncturing resistance.
The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on). Trading and investing in cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrencies, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment.
Any opinions, news, research, analyses, prices, or additional information contained on this website is provided as general market commentary and does not constitute investment advice. Upblock will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this Site are owned by the respective writer and should never be considered as advice in any form.