📊 Analysis of MDT/USDT: Possible reversal after a prolonged decline 🚀



On the weekly chart of MDT/USDT, there is an interesting technical picture. The price has been in a descending wedge 🔻 for a long time, which is traditionally a bullish pattern when breaking upward.

💡 Key observations:

Current price: $0.0333 — an increase of +26.9% over the week 📈.

SMA 7 and SMA 25 ($0.0241 and $0.0247) are below the price, confirming a short-term bullish momentum ✅.

SMA 99 ($0.0486) is currently acting as a medium-term resistance 🛑.

Ichimoku Cloud: The price is still below the cloud but is approaching a test of the lower boundary ($0.0335–0.0486). A breakout of the cloud will solidify the upward trend ☁️➡️☀️.

Parabolic SAR ($0.0144) remains below the price, indicating an upward phase.

📌 Strong levels:

Support: $0.0245 and $0.0300 🛡.

Resistance: $0.0486 and $0.0600 🎯.

📈 Potential scenario:

If the price consolidates above $0.035 and breaks the $0.0486 area, an acceleration towards $0.06–0.07 is possible. A bounce from the current resistances back to $0.03–0.028 is also realistic.

⚠️ Risks:

The Ichimoku cloud is still bearish, and the overall market may influence the dynamics of MDT. Without a consolidation above $0.0486, the trend reversal is not confirmed.

💬 Conclusion: MDT shows the first signs of exiting a prolonged downtrend 📊. It is interesting for medium-term traders, but requires confirmation by breaking through key zones.
MDT-16.9%
CLOUD-6.81%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)