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Sanjay Shukla
Dec 1, 2022
by Sanjay Shukla

XDC Technical Analysis: 200-Day EMA Breakout Starts Bull Run 

XDC Technical Analysis
The XDC technical analysis shows a bullish reversal momentum teasing the 200-day EMA with a possibility of a jump to the $0.023 mark as the dominance of buyers increases.

The XDC Network (XDC) displays a bullish run breaking above the 200-day EMA with an ascending triangle on the daily chart. The token witnessed a drop of 26% in the last month as the last few weeks have been a roller coaster ride for most of the crypto market. After a recent sharp breakout, the token is again on the recovery rally as the price pulled back at $0.022. Despite a slight drop of 0.23% in the market valuation of XDC to $284.27 million with a plunge of 0.25% in prices, the token is again on the recovery path. The surge of 3.33% in the 24-hour trading volume to $3.13 million. Currently trading at $0.023 the token has signaled buying opportunities for traders. 

Key Points

  • The XDC price action shows a bullish reversal after a recent bearish breakout

  • The ascending triangle on the daily chart also signals a strong uptrend 

  • The intraday trading volume in XDC is $3.13 million 

    • TradingView ChartSource: Tradingview

    XDC Technical Analysis

    XDC price action maintains a bullish reversal momentum after a recent sharp decline. Quickly pulling back at $0.022 the price is again on its previous level teasing the 200-day EMA. The steep rebound of prices from 23.60% to above 78.60% on the Fibonacci retracement level also reflects a strong bun run. If XDC maintains the current upward momentum it could touch the mark of $0.025 bringing multiple opportunities for the traders. Whereas if the token loses the bullish strength it will take support at $0.022. 

    Technical Indicators

    Steadily moving above the 14-day SMA towards the overbought zone after giving bullish divergence under the mean point, the RSI slope projects increasing demand in the market. MACD and signal lines with an increasing gap between them also display a strong upward trend with overly bullish histograms.

    Therefore, the technical indicators show strong bullish reversal with increasing buying pressure indicating opportunities for traders as XDC sustains the uptrend. 

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    XDC Technical Analysis: 200-Day EMA Breakout Starts Bull Run 
    Sanjay Shukla
    Sanjay Shukla is a Content Writer with Cryptoknowmics, India's biggest media platform in crypto. He has more than 8 years of experience in the Business and Finance domains. Sanjay writes excellent content on cryptocurrencies, trading, Bitcoin, and the share market, to help the readers have deep insight into the topic.

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