- XDC NETWORK price prediction shares an overview of the strong bullish sentiments for the XDC coin
- XDC crypto price reported a year-to-date profit of 116.97%
- XDC token has recorded a new high since May 2022.
XDC Network’s (XDC) price prediction shares an overview of the strong bullish sentiments surrounding the XDC coin since the start of the year 2023. The market has been soaring for the past 7 months and has been performing well compared to other crypto assets. The bulls started accumulation at the support level of $0.02533. The XDC token escalated to the resistance level of $0.04615 and made a 34% pullback to the support level of $0.03069. After a brief consolidation, the price started its bullish rally to its current market price.
At the time of writing, the current market price of XDC NETWORK is $0.05511 The 24-hour trading volume dipped 4.96%. The market is up 3.2% in the last 24 hours. The overall market cap of XDC is $761,056,655.
Can XDC Coin Resume Its Rally to $0.100?
XDC Network’s (XDC) price prediction reveals that the XDC crypto price has a bullish outlook in the short term. The market has consolidated at the support level of $0.03069 since May 2023. The price finally escaped the range in July 2023 and has gained almost 75% since the recent correction.
The strong uptrend drove the price above the key resistance of $0.04615, where the XDC coin price peaked at $0.06512, marking a new high since May 2022. At present, the price has made a small correction of 10% while getting rejected at the local resistance of $0.05883. The XDX crypto price may consolidate before resuming its uptrend.
Will XDC NETWORK Sustain its Bullish Momentum.
The 4-hour chart represents a strong bullish market structure where the XDC token is floating above the 200 EMA. The price takes the support of 9 and 15 EMA on its way up. The volume represents the strength of buyers and justifies the recent surge in the price. However, the volume is declining with the rise in price.
The XDC crypto price is showing signs of divergence, where the price is creating a higher high but the RSI is making a lower high. This is a sign that the price may get a correction before it resumes its bullish rally. However, such divergences are common in a strong uptrend, and they cannot guarantee a reversal. The price may continue to soar as long as the market attracts buyers.
RSI
The RSI indicator is currently at 55.29 .It represents mild bullish conditions where the price may continue to rise until RSI goes below 50. Aggressive buying may happen only if RSI goes above 70
MACD
MACD is making a bearish crossover and the indicator is above the 0 line. This means the market may witness a correction and the price may move down until the MACD makes a bullish crossover sideways market condition.
200 EMA
On the 4-hour chart, the price is above the 200 EMA. This means that the market is bullish with the control of the buyers. The 200 EMA acts as a dynamic support, and the price may increase until it subsides the 200 EMA.
Conclusion
XDC Network’s (XDC) price prediction shares an overview of the strong bullish sentiments surrounding the XDC coin since the start of the year 2023. The price recently made a bullish move; therefore, it would be wise to wait for the next move. The bulls may wait for some bullish pattern, such as a bull flag, to enter new positions. The present scenario of the market is volatile, and a good risk management plan would be the best way to deal with it.
Technical Levels
- Support Level: The nearest support level is $1.31
- Resistance Level: The nearest resistance level is $1.36
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.