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 powerfully. Lately, one can identify the market structure as a falling wedge after the rejection at the key-area of resistance. Such a falling wedge is an inherently bullish market structure and has increased the chances of a breakout as it continues downwards. Most experienced traders use such structures for accumulation, and as soon as the tip of the structure is hit, it is most likely followed by a breakout. Looking at the technical indicator StochasticRSI, one can see that it is on oversold grounds and makes its cross to the upside. As soon it leaves the oversold conditions, a decisive breakout mostly follows it.
SRM has been consolidating in a very tight daily range for the last weeks and is not yet seeing the upside potential it has. It is slowly moving downwards and creating a divergent environment. Looking at the volume, one can see that the volume is steadily decreasing and not supporting the price movement's direction, which is an unambiguous indication that this movement is just a retrace and not a newly emerging trend.
Looking at the MKAST Algorithm, one can see that it is currently instead showing a bearish condition. Yet, the price is still above the LenLen Ribbon, which is a bullish indication, as it is using the ribbon as a form of moving support. The MKAST Index is at 1/15 points, which is very low and indicates an oversold environment typically, which is a potent fuel for a breakout.
IDEX has been moving in a very disappointing manner because it broke down from its tight range and had been just moving to the downside, without any upside spikes. It is mostly a very bearish sign and is not giving much hope for the investors as it is moving below the range. Nevertheless, most such movements below the range supports are followed by a strong re-test of the previous support. Should such a re-test turn out as an illiquid re-test and cause further downside, the future is not very bright for IDEX.
Looking at technical indicators, one can clearly see the MKAST Algorithm shows a bearish condition, especially since the price is moviong below the MKAST LenLen Ribbon. The ribbon can turn into a form of resistance and halt the price from further upside movements. The MKAST Index shows 1/15 points, which is undoubtedly oversold, and could easily indicate a soon retest of the previous support. Yet, the support levels have to be reclaimed as support if IDEX wants to experience ANY bullishness.
NASH have an inherently very bullish structure. It can break out anytime, especially against the area of resistance, which has been punctured many times before. Following NASH there is SRM, it has been moving with low volume in a divergent environment, which is a bullish indication. Since the project has many supporters, the possible breakout and pump could be coming soon. Finally, IDEX, which is a rather disappointing competitor, cannot hold its price above the needed levels. Should the re-test of the previous support turn out as a bearish re-test, the future will be very hard for IDEX.
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