- eCash coin declined by more than 4.33% in today’s market session.
- The eCash coin has given a return of 36.8% in today’s market session.
- eCash (XEC) price movement has formed a triangle pattern.
eCash (XEC) represents the revamped iteration of Bitcoin Cash ABC (BCHA), which originally stemmed from forks of both Bitcoin (BTC) and Bitcoin Cash (BCH). Its primary mission is to serve as a digital currency optimized for electronic transactions, with a specific focus on facilitating payments for products and services.
The eCash (XEC) coin is currently trading in a downtrend momentum. The price has created a lower-low structure.
Financial Data of eCash (XEC)
The current trading price of eCash (XEC) stands at $0.00002411, marking a 4.29% decrease in today’s market session. eCash boasts a total supply of $19.5 trillion.
As for Open Interest, it currently amounts to $4.2 million, reflecting a decline of 21.8% in today’s market session. The coin maintains an average trading volume of $34.7 million, which has seen a 13.9% decrease in today’s session.
In terms of technical indicators, the eCash (XEC) signal is predominantly negative. Among the 26 total indicators analyzed, the majority point towards a bearish trend. It shows an overall pessimistic outlook for the coin.
eCash possesses a maximum supply of 21 trillion XEC, with 19.5 trillion XEC currently in circulation. The XEC coin exhibits a volume-to-market cap ratio of 0.012 and reached its all-time high on November 10, 2021, at $0.00059.
Over the course of a year, the price of eCash (XEC) has witnessed a significant decline of more than 44%, underscoring its ongoing downtrend. The overall pattern of eCash appears weak, with the coin currently trading below its historical low, raising expectations of further price depreciation.
eCash (XEC) Technical Analysis
dd by writer50_tcr on TradingView.com
The current status of eCash (XEC) reveals that its price is situated below both the 50-day and 100-day Exponential Moving Average (EMA) levels. This development is regarded as unfavorable, implying the potential for price depreciation in the coming days.
Furthermore, the Moving Average Convergence Divergence (MACD) indicator for eCash (XEC) exhibits a bearish signal, with the MACD line positioned beneath the signal line. Additionally, the presence of a red histogram in the chart reinforces the likelihood of a downward price movement.
The Relative Strength Index (RSI) is also below the Simple Moving Average (SMA) line, signaling a negative trend and suggesting the possibility of further price decline in the future.
Conclusion
The analysis shows that the price of eCash (XEC) coins has given a negative return in the previous year. Also, the coin volume has declined by a huge percentage along with OI. The overall structure of the coin is weak and the price is likely to decline in the upcoming days.
Technical Levels
- Support Level: $0.00001928
- Resistance Level: $0.000038
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.