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.
NASH has been moving very strongly lately and is still trapped in a substantial range. This range has been punctured several times in a row at resistance. The current market structure looks like a falling wedge or the possible beginning of a solid bull-flag; it seems like the next impulsive move could easily cause a breakout. The volume in the structure itself has to be accordingly high and impressive. A break of resistance and suspension of the very long-lasting range would cause extreme bullishness for NASH.
Currently, the volume is retracing, and this is expected to be seen in a continuation pattern, not a reversal pattern.
Since the last analysis, a lot has happened. The breakout did play out, yet it failed miserably once again, crushing all dreams and hopes of a quick and trustworthy reversal of SRM.
Being rejected at the critical level of previous resistance has brought it back to the same levels where the breakout started. Nevertheless, SRM is still trading above the vast and long-lasting downtrend resistance, which is still quite bullish and leaving at least some hope.
Looking at technical indicators, one can see that the MKAST algorithm is still bearish, yet the LenLen ribbon is starting to turn to the upside and create a substantial level of support. Further, the volume is even retracing and supporting the theory of a bullish continuation soon.
IDEX has been trapped in a range for quite a while now and still struggling to get out of it. It has only tested the resistance twice and is currently coming back down to support levels at the range lows.
The volume here is remarkably low and indicates that this recent retrace is not a newly emerging downtrend, which, when hit resistance, would immediately cause a strong reaction.
Looking at the MKAST Algorithm, one can see that it has changed into a bearish condition. Following the very low MKAST Index, one can expect a soon emerging re-test of support or a direct re-test of the resistance.
All in all, there is once again an apparent line between all three competitors.
Leading the race is NASH. A super punctured range with an emerging falling wedge creates the most significant opportunity for an experienced trader.
Following NASH, one can see SRM, which struggles to fight the strong downtrend, yet it is not giving up and trying to bounce from support or a double bottom pattern.
Finally, IDEX has not been seeing too much movement lately and is still trapped inside a range, where it might take some time to break out from.
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