Date: Wed, Aug 13, 2025 | 09:40 AM GMT
The cryptocurrency market is in full bullish swing as Ethereum (ETH) has broken above the $4,600 mark for the first time since 2021. This 27% weekly surge has boosted sentiment across the sector, fueling strong rallies in major altcoins, including the CEX token — MX Token (MX).
MX has jumped 8% today, extending its weekly gains to 11%. More importantly, its latest price action is forming a familiar pattern that could hint at its next move.
Fractal Setup Hints at a Bullish Reversal
On the weekly chart, MX has been moving inside a broad rising wedge, a structure that has historically delivered strong rallies before any major breakdown.
Back in early 2023, MX bounced perfectly from the wedge’s lower support, reclaimed its 100-week moving average, and broke free from a downtrend resistance. That breakout triggered a spectacular 500%+ rally, carrying the token to the wedge’s upper boundary.
Fast forward to now, and the similarities are uncanny. MX has once again rebounded off wedge support and is now testing the confluence of its 25-week moving average and the downtrend resistance line — a key zone highlighted in the chart’s circle.
What’s Next for MX?
If MX can break above the 25-week MA at $2.62 and pierce the downtrend resistance, the next major test will be reclaiming the 100-week MA around $3.23. Clearing both levels could open the door for a powerful rally toward the wedge’s upper boundary — potentially putting the $8.00+ zone back on the table.
Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before making investment decisions.