Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Cryptoknowmics 2022-01-10 13:30:51

XDC Technical Analysis: 40% Spike Awaits Falling Channel Breakout

The XDC coin price loses bearish momentum in the falling channel pattern with the increasing possibility of a bullish reversal. XinFin is a hybrid blockchain technology company that is optimized for international finance and trade. The system is powered by the native cryptocurrency known as XDC. The protocol is designed to work with Smart Contracts, 2000 TPS transactions per seconds. The XDC Chain makes use of XinFin delegated proof of stake and its goal of creating a ‘highly-scalable and secure, as well as permission-based and commercial grade’ blockchain. Let us move ahead to read about XDC technical analysis. Past Performance of XDC The XDC coin price sustains a bearish momentum within the falling channel pattern in the daily chart. The coin price has decreased by 55% since the start of the falling channel on 21st August. However, the 35% fall in the intraday trading volume shows a lack of bearish commitment. XDC/USD Daily Chart XDC Technical Analysis The recent downfall from $0.11 close to the resistance trendline of the falling channel results in a 20% downfall in the last week. Therefore, the increasing bearish trend momentum is evident by the downfall and indicates a fallout of $0.080. The coin price struggles to rise above the overcome selling pressure at the 50-day EMA as the rejection keeps the price under a downtrend. Moreover, the EMAs maintain a bearish alignment which will provide dynamic resistance to any bullis...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.