- The XDC coin’s indicators are displaying a bearish signal.
- XDC Network price witnessed a fall of over 7.8% in the last three months.
XDC Network, formerly XinFin Network, presents a hybrid blockchain platform blending the transparency of public blockchains with the speed and security of private networks.
Leveraging blockchain technology and cutting-edge infrastructure, the project aims to deliver efficient financial services to its users.
Financials of XDC Coin
The XDC coin is trading with a decline of 2.26% in the last 24 hours. The coin has a total trading volume of $14.05 Million and a circulating supply of $13.8 Billion.
XDC coin has shown a fall of 7.8 % in the last three months and the volume/market cap ratio of the XDC coin is 0.02.
The technical indicators summary gives XDC coin a “sell” signal. Out of the 26 top indicators, the majority of them are giving a sell signal.
Price vs Volume Analysis
The charts reveal a decline in both the coin’s price and volume. This indicates a diminishing presence of buyers in the market, leading to a decrease in trading volume.
XDC Network Technical Analysis: Which Way Price Will Move?
Currently, the XDC Network is exhibiting an upward momentum, with the XDC coin on the rise, forming a pattern of higher highs.
Despite experiencing more than 50% decline in less than three months, the XDC coin found support at the $0.045 level and continues to trade nearby.
The price movement has resulted in the formation of a descending triangle pattern, typically considered a negative signal. Additionally, a reversal occurred after reaching the resistance level. These overall factors suggest a future decline in the coin’s price.
Technical Indicators Summary of XDC
The XDC coin’s MACD line is trading below the signal line. This crossover is considered a negative signal, which increases the likelihood of a price decline.
The RSI line is presently trading at 42.8 and the SMA line is at 52.08. The RSI is below the SMA, indicating bearishness in the market.
Conclusion
The XDC is negative in the daily timeframe. The indicators are showing a poor signal and the price is moving inside the weak pattern. The price is showing a reversal after hitting the resistance level. Hence, the price is likely to fall further in the upcoming days.
Technical Levels
- Support Levels: $0.04 and $0.035
- Resistance Levels: $0.05 and $0.06
Disclaimer
The views and opinions of the author, or anyone else 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.