Beldex Coin Price Prediction: BDX On Course to Register Seventh Successive Weekly Gain

Summary:
• In this Beldex coin price prediction article, we look at BDX price's steady gains since late May that have seen it stealthy outperform BTC.

Beldex coin price extended its gains on Friday, rising by 0.9 percent to trade at $0.0511. The coin has been on a recovery path for the past three days, and has gained 6.2 percent in the last seven days.  The privacy-enabled coin is riding on a market-wide upsurge, that has seen the crypto market capitalization gain 300 billion in the last three days to stand at $2.1 trillion as of this writing.  Notably, BDX is among the fewer than 20 crypto assets whose weekly candlesticks have turned green following the recent market wipeout. This places it at a vantage position to leverage the rare positive sentiment to attract more buyers heading into the weekend.

Following its gains this week, BDX price is on course to register the seventh successive weekly gain- extending an uptrend that goes back to late May. Furthermore, at its current price, the Beldex is only 0.7 percent below its year-to-date high of $0.0524 set in mid-July. For context, Bitcoin has only three weekly gains in the last seven weeks, and is 17 percent below its year-to-date high of $73,794.

Beldex price momentum indicators

The momentum indicators on the 4-hour Beldex price chart signal shifting control between the buyers and the sellers. On the one hand, the 20-EMA is above the 50-EMA, and has stayed above that mark uninterrupted for the last two days. On the other hand, the %D line has recently crossed above the %K line on the Stochastic Oscillator, showing that the sellers could be taking back control of the market.

Support and resistance levels

On the 30-minute chart, the momentum favours control by the buyers above the 0.0510 pivot mark. Based on that, the upward trajectory will likely encounter the first resistance at 0.0515. However, extended control by the buyers could break that barrier and send BDX price higher to test 0.05200. Alternatively, the sellers will likely take control if the price moves below 0.0510. In that case, look for the first support at 0.0506. That said, extended control by the sellers could breach that mark- at which point the upside narrative will be invalid. Also, that could result in a stronger downside momentum to test 0.0502.