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Ankita Awasthi
Dec 16, 2021
by Ankita Awasthi

XDC Technical Analysis: Moving in Profitable Zone, Uptrend Is Strong

XDC
XinFin is an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. The XinFin network is powered by the native coin called XDC. The XDC Chain (XinFin Digital Contract) uses XinFin Delegated Proof of Stake (XDPoS), with the intention to create a ‘highly-scalable, secure, permission, and commercial grade’ blockchain network.

Let us see the technical analysis of XDC.

Past Performance of XDC

XDC has moved by 17% approximately since yesterday and is currently at $0.094. The highest it has touched during the last week was $0.0912 and a low of $0.06596. The price has been sliding down since November 26, 2021.

TradingView Chart

XDC Technical Analysis

XDC Network was proudly released on 2nd December 2021. The XDC network successfully launched its delegated XDPoS consensus protocol at block number 38383838. This special update is marked as Andromeda, named after the galaxy by the community. Through this upgrade, the XDC network brings in unique features supportive to its users and the community. In addition, the activation of this incompatible protocol requests the users to agree for the Andromeda update to be a part of the XinFin XDC network.

The On-balance Volume is at 212.3 million, and it seems to be sloping downwards a little. However, this price change is not matched by the fall in volumes. One can expect a quick revival and also the volume will be pushed upwards in the next few trading sessions.

RSI is at 62% and has taken a sharp turn upwards since December 14, 2021, and moving towards the overbought region showing the interest of traders is high and the strength of this trend is strong.

The MACD can be seen with the fast and slow line falling diverging from each other. The fast line is moving upwards indicating a strong uptrend and the slow line is marginally down, showing the prices will follow.

Price Trends for the Day-Ahead and Tomorrow

Based on XDC price prediction, a price correction is expected. The price forecast for 2022 is $0.63. With a 5-year investment, the revenue is expected to be around +773.79%. XDC may show a resistance level by stooping to as low as $0.63 by the first quarter of 2022, making investors buy XDC for long-term profit in the cryptocurrency market.

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XDC Technical Analysis: Moving in Profitable Zone, Uptrend Is Strong
Ankita Awasthi
Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

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