- The price has been trading in a range for the last three months.
- The XDC price could break the current support, contingent on sellers.
XDC Network (previously XinFin Network) is a hybrid (public/private) blockchain platform that amalgamates the transparency of public blockchains with the speed and protection of private networks.
The XDC Network is a layer 1 blockchain that is congenial with the EVM and the global payment messaging standard, ISO 20022, making it an appropriate platform for originators and financial institutions to build applications.
Moreover, the platform launched the XDCPay app: a web extension that works with some popular browsers and claims to improve the user experience for investors and businesses.
XDC wants to solve the problems that early blockchain networks could not solve: low network bandwidth, excessively high fees and a poor developer experience.
The platform also aids smart contracts so that developers can create apps and protocols on the blockchain.
It enables the deployment of layer 2 digital assets (via Origin) and uses sharding to process transactions faster (over 2000 transactions per second).
The platform is an accessible-source hybrid blockchain for global trade and finance. Acknowledging its hybrid design, XDC communicates with both public and private blockchains.
XDC Network (XDC) is secured through a green and highly efficient dPoS consensus algorithm called XinFin delegated Proof-of-Stake (XDPoS).
Analyzing the XDC Crypto Price Chart
The price of XDC is $0.04885, down 0.87% in the last 24 hours. The price has been trading in a range for the last three months, with no significant breakout or breakdown.
The XDC price has also been falling in the last month and week, by 4.79% and 13.22%, respectively. The XDC price is in an overall downtrend, forming lower highs and lower lows.
If the selling pressure persists, the XDC price could break the current support at $0.04500 and drop further.
Conversely, if the buying pressure increases, the XDC coin price could bounce from the current level and break the current resistance at $0.05500.
The MACD indicator shows a bearish cross and a widening histogram, indicating strong downward momentum in XDC.
The RSI indicator shows a downward trend and a rejection from the 14-period SMA, indicating that the XDC price is not oversold and could continue to fall.
The overall sentiment for XDC is bearish, with indicators signaling sell signals.
Summary
The price of XDC is $0.04885, down 0.87% in the last 24 hours. The price has been trading in a range for the last three months, with no significant breakout or breakdown. The current price action is on the bearish side and overall sentiment for XDC is bearish, with indicators signaling sell signals.
Technical Levels
Support Levels: $0.04500
Resistance Levels: $0.05500
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.