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- XEC crypto price has uplifted by 16% in less than 2 days.
- The eCash price has surpassed the 20-day EMA and is heading for the 200-day EMA.
Based on the chart structure, the XEC price has remained bearish since April and has lost 55% till July. The price dropped below the 200-day EMA in June, but the buyers showed involvement and lifted it back.
After the consolidation of 2 weeks, the XEC price triggered a breakdown from the crucial support level at the beginning of July. However, it has rapidly recovered and surpassed the $0.0000310 mark.
At press time, the XEC crypto was being traded at $0.0000401, with a surge of 13.98% in the past 24 hours. The market capitalization was $749.53 Million, and the 24-hour trading volume was $44.83 Million, surging by 500% in a day.
Is XEC Gaining Momentum?
A source on X claimed that the eCash crypto price is gaining momentum. The price has found its primary support level of $0.000025 and has formed a hammer candlestick.
$XEC is gaining momentum. The primary support at around 0.000025$ has been confirmed. Now, it's all geared up to surpass our next target of 0.000067$ if Bitcoin stays bullish during this period.
— Decilizer (@decilizer) July 27, 2024
The previous rally showed a 310% increase. pic.twitter.com/4Gqz605fKu
After forming the hammer at the bottom, the XEC price has surged by 53% in 22 days. The price has geared up for a massive upmove and is ready to surpass the first target of $0.000067 if the Bitcoin price maintains bullish momentum.
Has the buying signal been generated in eCash crypto?
Based on a source on X, the XEC price has jumped by 10.08% in just 4 hours, demonstrating clear involvement. This momentum has cleared the trend, and this source signals a bullish forecast.
XECUSDT gained %10.083 in 4 hour time frame!
— thegoldencrosser (@goldencrossertw) July 27, 2024
Signal: BUY
Visit https://t.co/98E1rjZWrj for more info
#XEC $XEC pic.twitter.com/Ld4QBL7VMq
Will XEC Price Rise After Breakout or Keep Falling Further?
In a broader time frame, the eCash price has displayed a bearish momentum and has kept declining by forming lower lows and lower highs. The price reached the lower low territory in the first week of July and returned to the lower high region.
After reaching the lower high zone, the sellers dragged down the price by 15% in a week.
However, it failed to continue the bearish momentum and took support on the 20-day EMA. The eCash price has triggered a pullback after taking support on the trendline.
The digital asset price has generated a pullback and has surpassed the last swing high. If the XEC price manages to surpass the 200-day EMA with the rise in trading volume, buying momentum can be anticipated.
On the other hand, a price below $20-day EMA might invite sellers to eye for a new lower low. It might be difficult for the buyers once the price drops below the $0.0000300 hurdle.
According to the technical indicators, the XEC price has advanced the 20-day EMA and is excited for the 200-day EMA.
Will XEC Price Recover From Bottom?
XEC crypto has shown signs of a potential trend reversal after a bearish period. The price has surged, overcoming key EMAs and support levels.
The recent surge in trading volume indicates increased market activity and potential buying momentum. However, it’s important to closely monitor the price movement, especially with the 200-day EMA and the $20-day EMA levels.
Technical Levels
The eCash price is expected to face resistance from the 0.0000450 and $0.0000700 mark. The price may take support at $0.0000310 and $0.0000250 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
