- XDC Token price action continues to trend lower within a falling channel..
- The loss in momentum-driven candlesticks indicates a momentary loss of interest among traders.
- The pair of XDC/BTC is trading at 0.000001602 BTC with an intraday move of +6.27%
Source- XDC/USD chart by tradingview
XDC Token price trends lower within a falling channel in the daily chart with no significant bullish fightbacks. Moreover, the recent bullish candlestick in the daily chart fails to rise above the resistance trendline. As a result, the channel is still in action. Hence, we can shortly observe a downfall.
Pivot point analysis has shown that the resistance levels of the Token are at $0.10, following $0.13. However, if the price drops below $0.090, sellers could face resistance at $0.076 and $0.051.
XDC Token trades for $0.097 and has experienced a 6.55% rise in market capitalization within 24 hours. In addition, the intraday trading volume increased by 75% over the last day.
Will XDC Token Price Give A Bullish Reversal?
The chances of a bullish reversal is less, but not zero. As the price falls, it approaches the crucial support level of $0.070. The level is expected to be a demand zone. As a result, a bullish reversal is expected near this level.
The XDC token price shows a bearish trend with its price trading lower than all the important EMAs 20, 50, and 100. The price action also indicates an increase in sellers pushing the price lower.
As the daily slope falls, the RSI indicator predicts a rising underlying bearishness in the price action.
MACD indicators show the MACD and signal lines falling lower in the daily chart. MACD indicators indicate a sell signal.
Conclusion: XDC Token Price action indicates a boom in selling pressure evident by the falling channel in the daily chart. However, investors can expect a bullish reversal in the token price as it approaches the $0.070 mark.
Resistance– $0.10 or $0.13
Support– $0.070 and $0.051