- XDC Price surges more than 20% in a single day due to partnership with SBI VC Trade Japan.
- The XDC Network and SBI VC trade partnership publicly confirmed on May 31.
- SBI VC Trade is a firm which provides trading and exchange platforms for crypto currencies.
XDC Price up 20% in a single day due to the recent partnership of XDC Network with the SBI VC Trade Japan. The partnership was officially confirmed on May 31, 2023. The firm specialize in managing crypto currencies and provide a platform to traders to buy and sell crypto with fiat currencies.
XDC Network will now work with SBI VC to improve the trading activities. It will enhance transparency, traceability and cost- efficiency.
The network is expanding in Japan which is an international trade hub. It grabbed the attention of the long term investors and the result is visible in the prices.
XDC Price performed well in the beginning of 2023 and rallied 84% from the lows. Meanwhile, it also displayed a golden crossover which boosted the confidence of investors. However, In the mid of April, XDC crypto faced resistance at $0.45188 and short term profit booking triggers from the higher levels.
Slowly and steady, Prices began to decline and slipped below the 50 and 200 day EMA. It raised concern of the investors but the recent up-move shows that buyers are still active near the support zone.
XDC Network Price is trading at $0.039473 with an intraday rise of 5.38%. The 24 hour volume to market cap ratio is 0.0176.
XDC Price prepares to hit new yearly highs
XDC Network witnessed a massive spike in the buying volume and prices also increased significantly. It shows that some genuine investors are turning bullish and expecting out performance in the coming months.
XDC Price climbed above 50 and 200 day EMA indicates uptrend. Therefore, the EMAs will now act as a strong support and any short term sell off will be easily absorbed. If XDC price holds the $0.035000 level then the rally might continue toward the yearly highs.
On the other hand, if the price faces rejection and drops below EMAs the up-move is considered a trap and more downside will open. The technical analysis suggests, XDC Network is in uptrend and the partnership with SBI VC Trade is fueling the rally.
XDC Network: The bulls looks unstoppable
The sudden jump in XDC Network Price from $0.030000 has made it easy for investors to identify the demand zone. The upward momentum is still continuing and bulls are unstoppable.
The technical indicators like MACD had generated fresh positive crossover and the curve is pointing upward. It shows the strength and the price seems to be preparing to test the yearly highs. The RSI at 71 is near to the overbought territory and the confidence of the bulls are visible.
Conclusion
XDC Price up 20% in a single day due to the partnership of XDC Network with SBI VC trade. It grabbed the attention of long term investors and XDC price is racing toward the yearly lows. The technical analysis suggests, XDC price is in uptrend and the recent up-move looks sustainable.
Technical levels
Resistance levels: $0.045188 and $0.050000
Support levels: $0.030000 and $0.024281
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.