Measurable Data Token (MDT) — Bullish RSI Signal on the 1D Chart

Jun 20

Based on the current oversold RSI, many coins should be ready to bounce and deliver a (small) relief rally.

In this context, MDT is a very interesting signal since the profit potential is quite high.
However, the token is rather volatile. Therefore, you have to be careful with your stop loss.

Based on backtests, the signal has shown extraordinary results. 92% of all historical RSI signals on the daily chart resulted in gains of more than>10% for MDT. Nevertheless, the chart shows that the profit potential could be even higher. In this context, our algorithms have calculated a profit potential of 45% based on the next major resistance.

However, given the current indecisive market, I would be cautious about the calculated profit potential of 45%.

A quick look at other indicators shows that all trend indicators signal a bearish trend. This isn't surprising and similar to many other altcoins. On the contrary, momentum indicators are either neutral or oversold.

Summarized: The oversold RSI and promising backtests provide an interesting entry. At the same time, the high volatility of the token bear some major risks.