- XDC coin shows the formation of a cup handle pattern in the daily time frame
- The XDC/BTC pair was trading at 0.000003242 BTC with a loss of 3.39%
- The current price of the XDC coin stands at $0.1083, with an 8.01% decrease in the past 24 hours.
The XDC coin forming the cup and handle pattern having the key resistance at the $0.125 mark in the daily time frame. This pattern should bring an amazing long opportunity for investors interested in adding XDC coins to their portfolios. Additionally, the coin is currently in the phase of forming the handle of its Cup and Handle pattern, which should also provide an early entry opportunity for investors at the base of this handle.
About the EMA’s, the XDC coin is trading above all the critical EMA’s 20, 50, 100, and 200 indicating a strong bullish trend formation. However, the investors can notice the price being so far from its crucial EMA averages is not so healthy for XDC Coin, and thus the handle of the shown pattern should act as that small correction required in this coin.
The RSI ( BULLISH) current value is 65, indicating a strong bullish sentiment in the market. However, the RSI line seems to be making lower high formation, which could help the price to form the handle mentioned above.
XDC Coin Shows A Breakdown From The Ascending Trendline In The 4hr Time Frame
The XDC coin price finally broke down from its ascending trendline, promoting a downfall in the price. In addition, the chart shows a great alignment of the crucial EMA’s for a bullish trend, and thus, investors can use these EMA’s as good support from where the correction phase can bounce.
The MACD indicator (BULLISH) shows a bullish sentiment in the price as both the MACD and the signal line are high above the overbought zone. However, the lines have given a bearish crossover, and the histogram also shows rising red bars supporting ongoing selling in the market.
Conclusion: From the technical perspective, the overall sentiment for the XDC coin remains strongly bullish, and as mentioned above, the formation of a cup and handle pattern should bring another great opportunity for market participants if it gives a strong breakout from the $0.125 mark.
Support: $0.095
Resistance: $0.125