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- 1 XDC price prediction suggests a sudden rise may occur soon.
- 2 The 50-day and 200-day EMAs are an immediate barrier for the bulls.
- 3 XDC Network price is taking support near the lower range of consolidation.
XDC price prediction suggests a sudden rise may be triggered at any time from the demand zone. It is trading near to the crucial support and buyers are trying their best to defend the lower range.
XDC Network lacks direction and is stuck in the narrow range consolidation. Buyers and sellers both tried multiple times to break the boundaries of either side of the range. However, the attempt failed and the price continues to trade in the range.
While consolidating, the frequent spikes in the volume and price are visible. It shows that speculators are active, which increases the possibility of fake breakout/breakdown. Therefore, investors need to be careful and wait for the confirmation of the breakout to inject money.
XDC price dropped below the 50-day and 200-day EMAs, which are now acting as an immediate hurdle for the bulls. The probability of bounce back will increase when buyers can push the price above both the EMAs.
Currently, XDC crypto price is trading at $0.04794 with an intraday rise of 1.57%. In the last 24 hours volume to market cap stands at 2.32% denotes volatility is quite low.
Will the XDC Price Show a Rebound from the Support?
XDC price looks mildly bearish for the short term and the presence of sellers is visible. However, the price is near to the demand zone so it will be risky to create fresh shorts.
As long as the XDC coin price sustains above the $0.04400 level, the buyers will remain active and try their best to rebound. The overall crypto market is recovering and it may positively affect the XDC, which increases the possibility of a bounce.
The analysis suggests this coin price is at attractive levels and aggressive buyers can take the risk and play bullish bets.
XDC Network price is inside the Bears Grip
XDC Network price is on the sellers’ radar and does not show any signs of range expansion. However, if the sell-off continues and the price slips below the $0.04400 support, the bears will take over control and may try to pull the price down to the $0.03990 level.
The MACD curve is below the zero line but sloping sideways indicates price losing the downside momentum and may enter consolidation. The RSI at 44 reversing upward from the oversold territory denoting that the bulls are getting active.
Conclusion
XDC price prediction suggests a short-term bounce is possible from the demand zone. However, the EMAs may act as a barrier and restrict upward bounce.
The analysis suggests XDC is near to crucial support. So, aggressive investors may take the risk and play bullish bets to generate nominal returns.
Technical levels
- Resistance levels: $0.05782 and $0.06771
- Support levels: $0.04436 and $0.03990
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.