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Vikram
Mar 10, 2022
by Vikram

XDC Technical Analysis: Buyers Bring Reversal Within Falling Channel 

XDC
XDC coin price shows the bullish reversal from the support trendline struggling to rise above the 50-day EMA as the market recovers. 

Key technical points:

  • The uptrend struggles at 50-day EMA.

  • The Stochastic RSI gives an untimely bullish crossover.

  • The 24-hour trading volume in the XinFin Token is $13 Million, marking a 45% rise. 

    • Past Performance of XDC

    XDC coin price action shows a long-coming falling channel in the daily chart. The altcoin's bullish rise from the descending support trendline challenges the 50-day EMA. The breakout of the dynamic barrier will result in a price jump to the resistance confluence of the 200-day EMA and the resistance trendline. 

    TradingView Chart

    XDC Technical Analysis 

    XDC coin price shows a 3.45% decline from the confluence of the 50-day EMA and the crucial emotional barrier at $0.055, vandalizing the bullish renewal and increasing the chances of fallout. 

    The paramount 50 and 200-day EMAs maintain a falling trend after the recent death cross remains higher than the market price. The 50-day EMA provides an emotional barrier with the 200-day EMA moving along with the resistance trendline.

    RSI Indicator: The RSI slope spikes above the 50% mark after showing a sideways move along the oversold zone with the 14-day SMA. However, it must sustain in the nearly overbought zone to give a solid bullish signal. 

    Stochastic RSI Indicator: The sharp rise in the K-Line with the following D-line after the recent premature end of the bear cycle reflects the bullish sneak attack. The rising strings may shortly enter the overbought zone.

    In a nutshell, XDC technical analysis projects a buying opportunity at the 50-day EMA breakout.

    Upcoming Trend

    XDC coin price will rise to the 200-day EMA at $0.073, with the 50-day EMA accounting for a price jump of 30%. However, the sellers at the 50-day EMA are looking formidable as the price struggles to withstand the bearish pressure. 

    Support Levels: $0.047 and $0.040

    Resistance Levels: $0.066 and $0.080

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    XDC Technical Analysis: Buyers Bring Reversal Within Falling Channel 
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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