- XDC bulls are apparently in trouble, Oscillators in favour of bears.
- XDC might witness more selling pressure if it fails to hold the immediate support suggested by Fibonacci.
- XDC/BTC is trading at 0.000009205 BTC with an intraday change of-1.28% while XDC/ETH is trading at 0.00003102 ETH with an intraday change of -6.28%.
XDC price is currently trading below the 20 and the 50 day moving average. The price faced stiff resistance and was unable to break both the moving averages acting as resistance. This scene is in favour of the bears and if the price fails to stay above the 100-day moving average we might see bulls getting squeezed in the near future.
The relative strength index(RSI) is also indicating a bearish momentum with the RSI line below the normal zone. This shows that the price of XDC is currently in the bear’s territory and there is a heavy onus on the bulls to make it safe for buyers.
The moving average convergence divergence(MACD) is also suggesting a bearish momentum. Both the MACD and the signal line are below the zero line with the MACD line below the signal line indicating the existence of selling pressure. The histogram is also seen printing red bars referring to sellers being active.
The fibonacci indicator is suggesting an immediate support at $0.1170 price level. If the price fails to hold this level, $0.1010 will be the next support and below it is $0.0751 price level. The resistance levels indicated by the Fibonacci are $0.1299, $0.1429, $0.1613 price levels.
NOTE: The moving average 20, 50 and 100 are in colour Yellow, White and Red.
The MACD line is coloured Blue while the signal line is coloured Red.
The important support and resistance levels to keep an eye on are;
SUPPORT: $0.1170, $0.1010, $0.0751
RESISTANCE: $0.1299, $0.1429, $0.1613
TAKEAWAY: Considering the technicals mentioned above, Celo might see a dump if it fails to hold the immediate support suggested by the fibonacci indicator. The RSI and MACD oscillators are also in complete favour of the bears. Buyers are cautioned!