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eCash (XEC) Price Stays Green This Week, Still Next Resistance Remains to Breach 

Analytics

www.thecoinrepublic.com 20 November 2022 12:50, UTC
  
Reading time: ~2 m

  • Ecash (XEC) price again tried to recover its costs after retesting its yearly low.
  • XEC price is correcting higher towards the immediate resistance at $0.0000360.
  • Amidst the recovery, the bears are keeping the asset price below the mid-band of the Bollinger Bands indicator.

Ecash (XEC) price is following the footsteps of the market leader – Bitcoin. XEC crypto has already reached its yearly low of $0.000026, which has flipped into a key security zone for the bulls. Thus it retraced to the same level amid the recent price decline and came back after a slight consolidation phase.

Buyers took advantage of the support level during the sharp decline. XEC price hit a 90-day low on November 9 and the subsequent price action was making consistent lower-highs and gaining narrow ranges. Buyers swung into action following a bullish price close on November 18, as a result of which, the bulls were drawing the third bullish candle of the weekend.

Source: XEC/USDT by Tradingview

Against the USDT pair, the Ecash (XEC) coin is trading at $0.00003175 mark at press time. In the last 24 hours, the market capitalization of XEC hiked by 10% at $610.8 Million as per CMC. Meanwhile, digital assets are trading green by 4.43% today. Bulls are going to see the bullish weekend together with 11.58% gain this week. Buyers are getting motivated from this bullish candle and this could drive the further rally ahead.

Amideast recovery, XEC price is expanding towards an immediate resistance level of $0.0000360 mark. Last night was extremely volatile because trading volume hiked by 1245% reported at $78.8 Million.

Source: XEC/USDT by Tradingview

In terms of the daily price scale, bears keep XEC price below the mid band of Bollinger band indicators. Despite the fact, RSI and ADX suggest the bullish divergence on chart. RSI constantly made higher-lows, headed towards the semi-line and ADX started falling down.

Conclusion

The Ecash (XEC) price action indicators recovery mode as of now as bulls are closing weekly price candles in green. RSI and ADX indicators show bullish divergence on the daily price chart, which may help buyers to push asset prices above the mid-band of the bollinger band.

Support level – $0.000026

Resistance level – $0.000036 and $0.000050

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.


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