ADX price surged 21.81% after breaking a multi-week descending trendline on the 8H chart.
Resistance at $0.09761 remains active, with current price consolidating just below it.
Support level at $0.0938 is holding steady, anchoring ADX within a short-term range-bound structure.
AdEx (ADX) has recorded a sharp upward movement, gaining over 21% in recent trading sessions. The token is now priced at $0.09726 after climbing 3.4% in the past 24 hours. Data from the 8-hour Binance chart reveals that ADX broke above a descending trendline and extended its gains, marking a notable technical shift.
This recent rally follows a strong recovery from early July lows. Momentum picked up shortly after price action crossed above the downtrend resistance, showing renewed market participation and volume activity. This trend shift occurred after weeks of price compression under the trendline.
ADX Retests Resistance as Breakout Pattern Repeats
ADX recently approached a resistance level at $0.09761, marginally higher than the current price. This zone has previously triggered short-term rejections. Notably, the price rose by $0.0176 or 21.81% from its prior base, placing it within a historically sensitive range. This rise happened after the break above the trendline, which had contained price action since early May.
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In that previous run, the asset surged by 35.49%, reaching a high of $0.130 before consolidating downward. The current movement appears to mirror the earlier breakout pattern, though volume levels have yet to match those seen in the earlier rally. Price fluctuations remain active within the $0.0938 to $0.09761 range.
ADX Reverses Downtrend With Strong Momentum Shift
Before this surge, ADX had been in a sustained downturn since May. During this period, lower highs and consistent selling pressure drove the price down. The shift came after a clean break from the downward slope, which acted as dynamic resistance for more than two months. Once
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ADX breached the descending trendline, momentum increased rapidly. This price change was marked by consecutive bullish candles forming across several sessions. The move broke above previous short-term highs, invalidating a series of lower resistance levels. This shift came alongside modest increases against BTC and ETH, 3.1% and 3.9% respectively.
Price Holds Steady Within Narrow Range
The closest support is pegged at the value of around 0.0938, which provides a vital relief against intraday fluctuations. This level has so far been resistant, particularly after upside spikes which have elicited a pullback presenting a buying opportunity. Traders are closely watching whether the price will stay above this line, as dips toward this level have seen quick reversals.
The current range shows consolidation just below the $0.09761 resistance. These levels now define near-term market structure, where price behavior remains in close proximity to these two levels. The immediate view is range-bound between 0.0938 and 0.09761.
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