- Xcarnival price broke down from the $0.00470 support level.
- Technical oscillators are showing a negative signal in the current trading phase.
- The trading volume declined 12.87% in the last 24 hours.
XCarnival (XCV) is a multichain protocol deployed on the Ethereum, Polygon, and Solana networks. It is a lending aggregator for Metaverse assets and has won championships in the BSC Hackathon for South Asia. The aggregator offers liquidation solutions for various NFTs and long-tailed crypto assets. XCarnival is also one of the first projects that educated users to adopt NFT lending modes with mining rewards.
XCV Coin Price Surged 55.06% Monthly & Declined 46.56% Weekly
XCV crypto price started a bullish reversal from the $0.00173 support. The price delivered positive returns for two consecutive months. 17.94% in November 2023 and 28.20% in December 2023, and spiked over 200% to the $0.00862 resistance band in January 2024.
However, the price faced massive selling pressure from the $0.00862 resistance. It fell to the $0.00210 bullish point of interest (POI) in February 2024. Subsequently, the price reflected an impulsive bullish rally in March, changing the current market sentiments.
Supply and Valuation of the XCarnival Token
The maximum amount of XCV token supply is capped at 1.00 billion XCV. The fully diluted valuation of the cryptocurrency is assumed to be $3.82 Million, which shows the project’s transparency. XCarnival has released 79.06% of the maximum supply tokens.
The current circulation supply of the XCV tokens is at 790 million, which holds a current market capitalization of $3.02 Million. 24-hour trading volume has declined 12.87% and reached $431K. The volume-to-market capitalization ratio is 15.33%.
Technical Analysis of the XCarnival (XCV) Coin Price
The 50-day and 200-day exponential moving averages had a golden crossover at $0.00265 on March 20, 2024. This reflects the increasing bullish sentiments in the cryptocurrency price. Both the EMAs can act as dynamic supports in the current phase.
XCV coin price has witnessed getting bullish reactions from the $0.00284 bullish POI. The price has recorded a massive bullish spike of over 750% from the POI. However, the price is experiencing extreme profit bookings from the $0.02451 resistance. It has been reflecting negative outcomes for the past eight days.
The price broke below the $0.00470 support level and is moving downward. The price will be more likely to fall on the $0.00284 support level. However, If the XCV price gave a breakout from the $0.00635 short-term high, the price can attain the $0.00940 level.
Furthermore, the relative strength index (RSI) reflects an internal bearish divergence in the price momentum, reflecting increasing selling pressure. The RSI is moving at 48.04 below the signal line.
Summary
XCarnival crypto price experienced a significant change in November 2023. The noticeable change transformed the total market sentiments into bullish ones. Conversely, the multiple quick bullish spikes of over 200% returns can be seen in the chart. XCV crypto price will be more likely to fall on the $0.00284 support level. However, If the XCV price breaks out from the $0.00635 short-term high, the price can attain the $0.00940 level.
Technical Levels
- Resistance Levels: $0.00635 and $0.00940
- Support Levels: $0.00284 and $0.00210
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 any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.