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 ranging for quite a while now and is consistently puncturing the area of resistance. This is inherently a bullish sign because, at some point, all of the liquidity at the key-area of resistance will be gone, and the path out of this rage will be cleared. Currently, NASH has a fascinating structure – a bull-flag. Such bull-flag is inherently bullish and is just a form of a retrace and is mostly followed by a healthy continuation. After testing the key-area of resistance already 6 times over the last year, the seventh time should be able to break it and clear the path. Supporting this, the volume is decreasing and is giving more confluence that this is just a retrace and not a newly emerging downtrend.
SRM has been struggling with a too long and devastating downtrend. The most recent “broken” downtrend resistance has also changed into a new one and gives SRM another fight to take on. Nevertheless, the most recent very stale and sideways movement with increasing buy-volume and increasing strength in the background is slightly bullish divergent, which increased the chances of a breakout.
Looking at technical indicators, such as the MKAST Algorithm, a sell-condition is still ongoing, and it is entirely understandable. Yet, it is worth mentioning that the LenLen ribbon is fragile and could be turned into support, and with the directional condition would change. Looking at the MKAST Index, one can identify the index crossing its ALMA and already supporting the bullish and divergent narrative.
IDEX has been having a horrible season lately. It was first trapped in a slow-moving range, which took out any momentum from it, and it is currently breaking down from this range. The exciting part about it is the high wicks that have been going into the key-area of resistance and could not hold the levels they tapped and attempted to break.
Looking at the MKAST Algorithm, one can identify a strong sell-condition, which is entirely understandable, looking at the current market conditions of IDEX. Even the MKAST Index is absolutely bottomed out and at 0/15 points, which is rare to see and usually indicates a bullish opportunity.
NASH has formed a strong bull-flag, which has all the needed structural integrity for a strong push out of the very long-lasting range. Following it, SRM shows some real strength at a very low volatility, indicating a possible break of the downtrend resistance. Such a break would be very needed, especially after multiple disappointments to its investors. Finally, IDEX is struggling with its range and is about to break down and continue the series of new alltime lows. This needs a strong push of the price to the upside. Otherwise, it will receive a very unfavorable price experience.
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