MDT (MDT), the native token of the measurable data of the decentralized data exchange platform, jumped nearly 170%on 25 July. Can Token prepare for further profit?
Summary
- MDT rose nearly 170% on July 25 and reached a highlight of $ 0.043.
- The rally followed the launch of Rewardme 2.0, which MDT integrated as the new crypto -release of the platform.
- Technical indicators confirm a bullish breakout supported by a golden cross and falling wig pattern.
According to Coingecko Data, MDT rose to a highest point in six months of $ 0.043, with its market capitalization that climbed from around $ 10 million to $ 26.8 million within just three hours during early Asian trading hours.
Why does the MDT price increase?
In the last 24 hours, the daily trade volume of Altcoins scored with more than 2,200%, which is usually a sign that retail investors can feed the rally.
The recent price destination of MDT seems to be supported by the official launch of Rewardme 2.0, which was announced by the reward team in a July 22 after On X. The updated version introduces MDT as the new Crypto -based remuneration option of the platform.
Under the new system, users can choose to receive rewards in MDT, which is now integrated into the app and both a cashback and a strike token.
The platform has retired its legacy me-token, which previously served as an in-app Belward unit. I functioned as a closed reward point system and was not designed for blockchain use. Existing ME Saldi were converted to reward dollars through a 1: 1 ratio. RD remains available for in-app rejections such as gift vouchers, although it is not transferable or based on blockchain.
The rollout of Rewardme 2.0 marks a broader transition from a closed reward model to a blockchain-integrated system that MDT positions in the middle of the future growth of the ecosystem.
For the non-dedicated, measurable data, a decentralized data exchange protocol that apps such as Rewardme, are a consumer-oriented platform, with which users can earn cashback by contributing anonymously to the contribution of purchase data, which is then aggregated and sold to data buyers for market insights, with value, with value.
Accumulate traders
From the moment of the press, MDT shows small signs of burnout with the relative strength index well within the overbough area in the press. Although this does not necessarily mean that the rally will end, this suggests that taking profit in the short term or a cooling -off period could follow if buying Momentum slows down.
MDT has fallen around 35% since he hit his recent high, but on-chain statistics continue to support a positive short-term prospect for MDT.
According to Nansen, the total range of MDT that is held at fairs has fallen by 7.3%, now a total of around $ 436.2 million.
The fall in MDT exchange balance can be considered a bullish signal. When tokens of stock markets move, this usually means that holders do not want to sell in the short term. This helps to reduce the immediate pressure on sale.
MDT -Price forecast
On the daily price diagram, MDT is broken from a falling wig pattern that had formed since December 2024. A falling WIG is a bullish reversing pattern characterized by converging trend lines that hell downwards, indicating a gradual loss of Bearish Momentum.
The recent outbreak above the upper limit of the WIG indicates a possible shift in the market structure to a bullish trend.
The simple advancing average of 50 days is above the 200-day advancing average cross and forms a Golden Cross, which is usually seen as a strong bullish indicator.
The Aroon indicator also supports the bullish prospects, with the Aroon at 92.86% and the Aroon with 0%. This configuration indicates a strong upward trend with minimal recent downward pressure, which enhances the validity of the current breakout.
In general, these signs jointly point to a constructive short -term prospect, although short -term volatility can arise if reward users begin to record profits.
For MDT, the most likely target is at $ 0.035, that token could not break during his May run. If Bulls succeed in catching that, the following important target would be the highlight of December 2024 of $ 0.08, which has succeeded historically as an important level of resistance.
However, a drop below $ 0.0146 would make this setup invalid.
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