Ecash Price Analysis: XEC price inside the border horizontal range, should wait for the right time?

• The Ecash (XEC) coin has been consolidating in a broad horizontal range between the $0.0000033 to $0.0000060 support level as resistance for the past several days.
• The ADX indicator continues to move down, resulting in the indicator reaching 15-points and showing a sideways zone.
• The market cap of Ecash Coin (XEC) increased by 11.7% to $838 million in the last 24 hours.

The Ecash (XEC) token has been on a continuous downtrend since its highest peak. Thus, for the past several weeks, both bulls and bears are barely trying to maintain their dominance over the XEC coin. The price action of the altcoin therefore appears to be in a range-bound phase.

The XEC coin sees its 2022 lows above the 0.00002550 mark, which is an important hedge level for the bulls. Meanwhile, the Ecash (XEC) coin is consolidating in a broad horizontal range between the $0.0000033 to $0.0000060 support for past resistance. many days.

Ecash Bears has retested the immediate support line (at 0.000033) twice in the last 50 days. After testing the bottom line of the horizontal range, the bulls are looking so aggressive for higher momentum. As a result, the XEC token is up 15% this week, while the cryptocurrency is trading at the $0.00004387 mark at the time of writing.

The market cap of Ecash Coin (XEC) increased by 11.7% to $838 million in the last 24 hours. Similarly, USDT pair with the XEC coin is trading up 10% at 0.0000000002177 satoshis.

Trading volume is gradually increasing during a higher-high formation in the period of the daily price chart. Nevertheless, the ADX indicator continues to move downwards, as a result of which the indicator reached the 15-point mark and reflected the sideways zone.

50 DMA acts as a resistance 

Buyers of Ecash have been struggling on the 50 day moving average for the past several days. Meanwhile, the 50 DMA has the most recent bullish barrier for the bulls.

The Stoch RSI is moving towards an overbought zone in terms of the daily price chart.

conclusion

Ecash coin is again retesting the 50-day moving average on the daily time frame. If buyers manage to rearrange the XEC price above this area, there could be a bullish trend to6 the upper line of the horizontal range.

Support level- $0.000033 and $0.000030

Resistance level- $0.000050 and $0.000060

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.