MDT is trading in an uptrend, like many other Altcoins. The cryptocurrency MDT just went up +90% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +115% in a week.
What is MDT?
Measurable Data Token MDT aims to provide a blockchain-based data economy, where data providers and data buyers can exchange data securely and anonymously. Measurable AI, MDT’s data analytics branch, is an alternative data provider that turns anonymous transactional data into consumer insights serving financial institutions and corporates. The MDT token is an ERC-20 token, used as the medium of exchange for data product access and user reward programs.
MDT Price Analysis
At the time of writing, MDT is ranked the 560th cryptocurrency globally and the current price is US$0.09285. Let’s take a look at the chart below for price analysis:
After looking at the above 1-Day candle chart, we can clearly see that MDT was trading inside the rising wedge pattern on the MDT/USDT pair. The first resistance was on the $0.07235 price level, which MDT broke with a strong bullish trend buying volume and is now heading towards the recent high price at $0.09827. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, MDT may continue to increase in the uptrend if traders keep buying with high volume.
“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”
What Do the Technical Indicators Say?
The MDT TradingView indicators (on the 1-day) mainly indicate MDT as a Buy, except the Oscillators which indicate MDT as a Neutral.
So Why Did MDT Break Out?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying MDT for the coming Altcoins rally. Recent news was also announced regarding MDT listing on CoinBase Pro.
Learn How to Trade Live!
Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.
Duration: 6-week course
From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar
Where to Buy or Trade MDT?
MDT has the highest liquidity on Binance Exchange, so that would help for trading MDT/BTC or MDT/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. You can also buy MDT from different exchanges listed on Coinmarketcap.
Disclaimer:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.
Credit: Source link
