Beldex Fractal That Last Sent BDX Coin Price up 95% Flashes Again

Key Takeaways:

• Beldex looks ready to undergo a strong rebound.
• The BDX price has fallen 75% in the last two months.
• Nonetheless, the token lacks fundamentals that triggered its previous price rally.

YEREVAN (CoinChapter.com) — Beldex (BDX) coin price has crashed over 75% two months after setting its record high of $0.152. But entering September, the privacy token looks prepared to begin a strong price rebound.

Beldex Coin Rate Returns to Key Accumulation Spot

On Aug. 31, Beldex coin rate stabilized around $0.035 as a part of its prevailing consolidation trend. Interestingly, the Beldex token’s sideways trend appears around a key support zone. For instance, the price rose nearly 95% after hitting the zone in February 2023.

Of course, strong fundamentals boosted Beldex’s upside prospects in February, particularly DWF Labs’ $25 million investment into its privacy technology project. In addition, the BDX price rally emerged in tandem with the crypto market’s uptrend in the same period.

Entering September, Beldex’s fundamental updates seem dwarfed compared to DWF Labs’s massive investment news. As a result, the BDX investors may rely on broader crypto market trends to decide their bias.

But technically, the Beldex coin is ready for a bull run if it repeats the February 2023 scenario.

A bounce from the $0.035 support could have the BDX price bulls’ eye a run-up toward $0.060, up 70% from the current price levels, by 2023’s end. Conversely, a break below the support level sends the BDX price into a freefall zone, i.e., an area with no historical support or resistance levels.

Head-and-Shoulders Pattern

Applying the classic head-and-shoulders pattern on Beldex’s recent price action clarifies its downside prospects. The bearish reversal setup shows BDX price in a breakdown mode, eyeing a decline toward the level at length equal to the maximum distance between the head and the pattern’s neckline support.

In other words, selloff continuation below the fractal support could have BDX price bears eye $0.025 as their next downside target.