Market Overview: IDEXUSDT – 24-Hour Analysis

• IDEXUSDT surged 37% on heavy volume, breaking above key resistance near $0.0300.
• A bullish engulfing pattern formed at the 24-hour high, suggesting potential continuation.
• MACD and RSI show strong momentum, with RSI near overbought levels.
• Volatility expanded significantly, with Bollinger Bands widening after a contraction.
• Turnover spiked during the bullish breakout, confirming price action.

IDEXUSDT opened at $0.02494 on 2025-08-01 12:00 ET and closed at $0.02925 on 2025-08-02 12:00 ET, reaching a high of $0.0344 and a low of $0.02455. Total volume was 743,071,696.3, with a notional turnover of $22,682,074.

Structure & Formations

The price of IDEXUSDT formed a strong bullish engulfing pattern near the $0.0300 level, confirming a breakout from a key resistance. This pattern, combined with a 37% price rise over 24 hours, suggests strong institutional or retail buying pressure. Key support levels appear to be consolidating at $0.0290 and $0.0280, with a potential short-term ceiling at $0.0344.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a steep bullish crossover, reinforcing the recent upward trend. Daily moving averages (50, 100, and 200) are also trending higher, with the price well above the 200-day MA, indicating a long-term bullish bias.

MACD & RSI

The MACD crossed above the signal line with strong positive momentum, aligning with the price surge. RSI reached 72–75 in the final hours, indicating overbought conditions. While this may prompt short-term profit-taking, the overall momentum remains intact.

Bollinger Bands

Volatility expanded sharply as the price surged toward the upper Bollinger Band, breaking out after a period of consolidation. The bands widened significantly during the bullish move, with price closing near the top of the range. This suggests increased market participation and risk-on sentiment.

Volume & Turnover

Volume spiked dramatically during the breakout above $0.0300, with the highest hourly volume occurring at $0.0344. Notional turnover also increased in tandem, confirming the price action. Divergences were not observed, suggesting that the move is broadly supported by both retail and institutional activity.

Fibonacci Retracements

Key Fibonacci levels from the recent low at $0.02455 to the high at $0.0344 show the price closing near the 61.8% retracement level at $0.0293. This suggests that the current pullback may be a healthy consolidation rather than a reversal.

IDEXUSDT appears poised to test the $0.0344 high again in the next 24 hours, with momentum and volume strongly aligned to the upside. However, traders should remain cautious as overbought conditions may invite profit-taking. A retest of the $0.0290–$0.0280 zone could also provide a key inflection point.