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AdEx Technical Analysis — Will ADX Jump to $2 This Year?

AdEx Technical Analysis — Will ADX Jump to $2 This Year?
  • Bullish ADX price trades at a high price of $0.8698 above the ALMA at the time of writing.
  • ADX might be able to break its $0.8983 resistance level and skyrocket to $1.3.
  • Bearish AdEx may break down from its position and drop its price to $.7014.

This AdEx Network Price Prediction 2021 article is based on technical analysis alone. Below you will find the key metrics that we have taken into consideration upon coming up with our ADX price analysis and prediction.

AdEx stands for “advertising exchange”. It is a decentralized ad serving network based on smart contracts technology like Ethereum. Also, it is one of the cryptocurrencies that entered this year on a bullish start. Investors can include ADX on their watchlist now because it is looking good for 2021 for sure. We’ll find out more about this later!

Meanwhile, let’s discuss the basics of AdEx Network. To cater to both advertisers and ad publishers, the network aims to provide a transparent, secure, and focused experience. It is basically a platform where ad providers and advertisers can collaborate to extend their reach by providing users a sleek advertisement experience.

Ivo Georgiev and Dimo Stoyanov co-founded AdEx. Both have previously worked on Stremio, a video entertainment platform. Ivo Georgiev has been serving as CEO of Stremio since 2012, and Dimo Stoyanov has been serving as its UX and UI Designer and Front-End Developer.

During June-July 2017, AdEx started its token sale campaign or initial coin offering (ICO) where AdEx raised an astounding $10 million within the first three hours of the sale. Thanks to this, a total of 100 million ADX tokens were minted and later distributed.

How Is ADX Different From Other Cryptocurrencies?

ADX is an ERC20 token, so it can be stored on any ERC20 token-compatible wallet, which will work perfectly fine as an ADX wallet. Popular options include MyEtherWallet, MetaMask, etc. ADX tokens can also be stored on hardware wallets like Ledger Nano S and Trezor.

Now that we’ve got to know the details of AdEx Network, do you think ADX will be profitable crypto in 2021? Let’s see in this AdEx Network price prediction.

The Value of AdEx Network Right Now

As of writing this ADX technical analysis, AdEx Network is at $0.8698 with a 24-hour trading volume of $7,341,447.53. The price has lowered by -2.46 % in the last 24 hours.

ADX Coin has a current circulating supply of ADX 114,567,719.237. The total maximum supply of AdEx Network is 150,000,000 ADX. Moreover, AdEx Network Coin can be traded on Upbit and Binance cryptocurrency exchanges. Now, let’s proceed to the next part of this AdEx price prediction 2021.

AdEx Technical Analysis

ADX ALMA indicator
ADX ALMA indicator (Source: TradingView)

As depicted in the graph above, AdEx shows a great performance against the current market volatility. Also, the graph shows an ADX price boost of almost 140% last February 27. As a result, traders and investors around the world are now closely monitoring cryptocurrency.

Today, ADX trades at a high price of $0.8698 above the Arnaud Legoux Moving Averages (ALMA), a bullish signal. Also, the current trading position of ADX has a growth rate of 41.9% in the past 30 days. If this trend continues, ADX might be able to break its $0.8983 resistance level and skyrocket to $1.3.

If it does, the price of the crypto could even reach the bullish price of $2 within the year. Of course, this is most likely to happen if the market continues to favor this crypto.

However, if the bullish market turns against the crypto, the price of ADX might decline. In other words, ADX may break down from its bullish position and drop its price to $.7014. Indeed, this is a price level that could create FUD among investors.

In this case, ADX must quickly recover and regain its position back with the bulls. Otherwise, the raging bears will not waste time in creating the $0.7014 support level to its new resistance level.

ADX MACD and RSI (Source: TradingView)

When it comes to Moving Average Convergence/Divergence (MACD), the MACD continues to reside above the signal indicator. In short, traders can still expect more bullish days ahead. On the contrary, if the MACD begins to slide down and performs a bearish crossover with the signal indicator, it will be a different story.

Meanwhile, the relative strength index (RSI) of ADX is at level 59.34. To explain, the crypto is still in a neutral position; neither oversold nor overbought. In this situation, traders such as scalp and day traders can still trade with confidence without worrying about a major price reversal.

FAQ

Can I use AdEx?

If you’re a publisher/advertiser, we’ve created a web application where you can monetize your website or advertise your product, called the AdEx Platform.

What payment method AdEx supports?

AdEx supports direct DAI deposits. Deposits in BTC, ETH, or XRP via Changelly; as well as Fiat currencies for deposits (i.e. topping up your AdEx account). Withdrawals are only carried out in DAI.

Do I need a crypto wallet to sign up for AdEx?

You can also sign up for AdEx with no crypto wallet at all, only by entering an email. This way, an in-browser wallet will be created for you. However, we recommend using a crypto wallet, since the security is much better. If you sign up with an email only, you can always upgrade your account by linking to a secure crypto wallet, such as Trezor, Ledger, or Metamask.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their research before investing in cryptocurrencies. 

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An aspiring journalist who spills her ideas in cryptocurrency and blockchain-related matters. With her background in Communication and Journalism, she is more inclined to write about reality than fiction.