Beldex coin price rose on Monday, leveraging the broader market rally to mount a recovery after three consecutive days of decline. The privacy-focused coin has been accumulating between $0.0780 and $0.0810 for much of the last month and is down by -0.7% in the last week.
The bullish case for Beldex price
Bitcoin’s rise to all-time highs on Monday stirred up the wider crypto market, driving the total, market capitalisation to a record-high $3.73 trillion. Beldex coin price is reputed for its high volatility and the current market sentiment presents an opportunity for BDX holders to generate substantial profits.
Trump’s second stint at the White House has notably seen a substantial spike in interest in digital assets. Notably, the market has its focus on utility, unlike the previous rally cycles, which were primarily sentiment-driven. Therefore, Beldex’s focus on privacy could potentially attract a new class of investors, which could help spur BDX price.
Despite having been around for more than six years, BDX coin has only been listed in a handful of exchanges. In addition, most of these exchanges are middle-tier, a factor that has subdued Beldex price upside. Therefore, listing on top-tier CEXs like Binance, OKX and Coinbase could inject a stronger momentum into Beldex coin price.
Beldex Coin Price Prediction
Beldex coin price pivots at $0.0792 and the upside if the asset stays above that level. In that case, immediate resistance is likely to come at $0.0799. However, if the buyers extend their control, it could breach that barrier and test $0.0807.
On the other hand, breaking below $0.0792 will signal a shift in the momentum to the downside. That will likely establish the first support at $0.0787. The upside narrative will be invalid if BDX price breaks below that level. Meanwhile, a stronger downward momentum will extend the decline and potentially test $0.0782.
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