MarsDAO (MDAO)
1. Fundamental Analysis
1.1 Introduce
MarsDAO is a Web3-community of users of educational, infrastructure and decentralized products with deflationary mechanisms, based on its native MDAO token.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | MDAO | Market Cap | 4387010.276 |
| Name | MarsDAO | White Paper | -- |
| Web Site | https://daomars.com/ | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | https://bscscan.com/ | Algorithm | -- |
| Forum | -- | Proof | -- |
| Mining | Total | 100000000 | |
| Supply | 100000000 | Release Date | 2022-03-17 |
| Available Supply | 78507700 |
2. Technical Analysis
2.1 Kline Chart
2.2 Analysis
The analysis of the provided K-line daily chart data reveals a distinct downward trend followed by a short term sideways movement with some initial price decreases at the start of the given period. The period begins with a high volatility and price spike on December 4th followed by a substantial drop on December 5th and a smaller but noticeable drop on December 6th and 7th before forming a support level around 0.06 to 0.065 between December 8th and December 10th. Then, the asset price moves from around 0.062 to 0.068 with moderate fluctuations before facing a significant drop on December 26th , 27th and 29th. The sharp falls led to a significant decline in the price after a brief period consolidation between December 11th and December 25th. After which the price continued to decline but at a decreased rate between December 29th and December 31st. The low close price on January 1st suggests continuation of the downtrend. The volume data reveals high volume on days with significant price changes and relatively lower volume during sideways movements. The significant decrease in price with high volume indicates strong selling pressure while the decrease in both price and volume in the later period suggest a weak uptrend. The overall pattern points toward potential bearishness in the short term followed by the current short term sideways movement, However, the high levels of decrease at the start of the period have been the trend setter for its current movement, therefore, the price may yet attempt to revisit the high decrease position with an increased volatility. The price range established between December 22nd and December 31st and the subsequent low close of January 1st demonstrates a shift in direction of this asset which will most likely go lower as time goes on based on the trend and the decreasing volume towards the end and the low closing price on the last day showing a lack of buying pressure which would be needed to move price upwards. Given the current short term sideways trend, any significant increase in volume with decreased prices would suggest more downward movement or any significant increase volume with an upwards movement would suggest an upward trend. The current short term sideways movement does not suggest strong future movement in either direction and future trends will be more easily determined by the data in the future. The given data points to a potential for price decreases especially since the current price is lower than where it was at the start of the given data.
