- The XDC Network coin price is trading just above the critical support level during the strong selling trend.
- The trading volume of the XDC coin has gained 16% over the past 24-hours, and the daily volume bar maintains the daily above 20-MA line.
- XDC/BTC pair price is trading positive by 4.39% at 0.000001411 satoshis.
The XDC Network coin has been trading into the descending parallel channel during the sharp-selling since the all-time high mark ($0.195-mark). The coin has lost around 72% of the cost from the ATH mark until the 6-month low at $0.0530. At the time, the bulls accumulated the coin price for the trend reversal. For the sharp recovery, buyers need to sustain the price above the last swing high ($0.0690-level), then only the buying may occur.
The XDC coin has found crucial support at $0.0550, and the immediate resistance sits at $0.0650, then the $0.10–psychological level may act as a critical bullish hurdle.
The XDC crypto price is trading in the red zone by 3.1% at $0.0552, although buyers are hardly trying to prevent themself from the short-selling below $0.0690. The asset has a %16 increase in the trading volume over the past 24-hours. For the past several days, the daily volume bars have continued noticing above the 20-MA line (blue). However, the volume to market capitalization ratio is 0.01492.
The XDC price is below the 20-day moving average (white) in the context of the daily price chart (which seems to be the zone of volatility). But it seems buyers have the potential to breach this bullish hurdle in the upcoming week. Moreover, the major MAs (including 50,100 and 200 MAs) is far above the current price.
Would buyers be able to reverse the downtrend?
The XTC Network coin with the Bitcoin pair price is indicating the reversal trend from the demand zone. At the time of writing, the XDC/BTC pair price is trading positive by 4.39% at 0.000001411 satoshis. However, the pair price is moving towards the half-level (20-MA) of the Bollinger bands indicator.
The daily RSI is underperforming below the 50-mark and reflecting the weakness in the XDC price. Moreover, the average directional index shows the sideways momentum for a short-term period.
Conclusion
As long as buyers maintain the XDC price above the crucial support zone, we can expect a bullish move; on the other side, if the price slips below crucial support, the bloodbath may happen.
support level – $0.0550 and $0.0450
Resistance level – $0.070 and $0.10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.