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Dalmas Ngetich
May 17, 2022
by Dalmas Ngetich

IDEX Rallies 155% as Bulls Likely to Clear April 2022 Highs

IDEX

Table of contents

  1. Past Performance
    1. IDEX Technical Analysis
    2. What to Expect from IDEX?
IDEX is table-topping at spot rates versus the USDT. The coin is up 155 percent, reversing from $0.03 and likely to clear April 2022 highs as the token bottoms up from all-time lows.

Past Performance

IDEX is spearheading the recovery, reading from the performance in the daily chart. After posting worrying dumps in early May 2022, pushing the token to new all-time lows, the recovery is on. Currently, IDEX is up an impressive 155 percent against the USDT, bouncing from around $0.04.

IDEX Technical Analysis

IDEX Daily Chart for May 17

From the IDEXUSDT technical analysis, buyers have the upper hand. Notably, the surge of May 17 is with high trading volumes. This expansion confirms the bullish engulfing bar of May 13, which closed below the lower BB, pointing to undervaluation. Based on this candlestick arrangement, buyers may look to double down on every pullback, targeting April 2022 highs of $0.20. If bulls double down, breaking above $0.20, the coin could surge to $0.30, marking Q1 2022 highs.

What to Expect from IDEX?

Buyers are back in control, reversing the losses of early May. The coin could easily tear higher at this pace, adding another 150 percent as it rallies to new 2022 highs.

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IDEX IDEXUSDT IDEX technical analysis
IDEX Rallies 155% as Bulls Likely to Clear April 2022 Highs
Dalmas Ngetich
Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.

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