Founded in 2018 on the core values of efficiency, resilience, and transparency, in the BTMX technical analysis, we will see how AscendEX is an innovative blockchain-based global digital money trading platform. It fosters fintech innovations and has strategically aligned itself with the DeFi ecosystem. BTMX is the prime governance token of this <a href="https://www.cryptoknowmics.com/news/a-complete-guide-to-the-proof-of-stake-in-blockchain/">Proof-of-Stake</a> (PoS) network. It was formerly known as BitMax and recently rebranded as AscendEX. It allows users to trade bitcoin, ethereum, and many other altcoins.
<h2><b>Past Performance</b></h2>
On March 25, 2021, the opening price of BTMX was $1.85. As of March 31, 2021, BTMX closed at $1.65. Thus, in the past week, the BTMX price has declined by roughly 12%. In the last 24 hours, BTMX is trading between $1.62-$1.66.

<img class="alignnone wp-image-192189" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/04/BTMX-300x182.png" alt="BTMAX Technical Analyisis" width="742" height="450" />

<a href="https://www.tradingview.com/x/WyzqQWoo/">https://www.tradingview.com/x/WyzqQWoo/</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, BTMX is trading at $1.62. The price has declined from the opening price of $1.64. Thus, the market looks bearish.

The <strong>MACD and signal lines</strong> are in the negative region. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, we can expect the price to fall further.

In the past 24 hours, the <strong>OBV indicator</strong> has risen sharply. Thus, buying volumes are much higher than selling volumes. Hence, the price is likely to go up.

Currently, the <strong>RSI</strong> is at 27%. It is in the ‘oversold’ region. Thus, selling pressures are very high. It is a great time for day traders to take long positions in the market. High sell-offs will exert downward pressure on the BTMX price. Hence, we can expect a further price dip.
<h2><b>BTMX Technical Analysis</b></h2>
As per technical analysis, the price has fallen below the first <strong>Fibonacci pivot support level</strong> of $1.625. If the bears remain strong, in a few hours we can expect the price to fall below the subsequent support levels of $1.61 and $1.60 respectively.

In a few hours, the price is likely to test and fall below the <strong>138.2% FIB retracement level</strong> of $1.60. Probably, a downtrend has set in. Thus, the bear-run is expected to continue tomorrow as well.

BTMX Technical Analysis: Declined from Opening Price of $1.64

BTMX below the first level of $1.625. If the bears remain strong, we can expect the price to fall below the subsequent support levels of $1.61 and $1.60 respectively.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

BTMX Technical Analysis: Declined from Opening Price of $1.64

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