Long
IDEX
IDEX project is relatively new and they claim it is "The First Layer3 Derivatives Exchange" which provide unique and cool features. Also its price movement show how popular it is. It seems idex is unfolding an inverted wedge pattern; if true, the current bullish wave has a lot of upside potential. Let's see what happens.
Note
I think IDEX might follow like this: the 3rd wave ended at 1.272 Fib and currently price is correcting to finish wave 4 which could end around 0.618 Fib retracement. After that wave 5 will start. Let's see what happens.
Note
So, IDEX still oscillating at the bottom of the inverted wedge pattern and has also made several pullbacks on it that shows this line is still a strong support. IDEX needs to break the major horizontal resistance area upward for uptrend wave confirmation. Let's see when this happens.
Note
So, IDEX is still oscillating between two horizontal support and resistance areas. Have to wait and see when IDEX breaks above this area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.