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Cryptoknowmics 2022-07-04 10:27:04

XDC Technical Analysis: XDC Prices Starts Another Bull Cycle

XDC price action shows a rise in the underlying bullishness teasing a price jump to the resistance trendline of the falling channel. Key technical points: The market price takes a bullish turnaround from the $0.022 mark. The price action shows a falling trend continuation within a descending channel. The 24-hour trading volume of XDC Network is $3.17 Million, indicating a fall of 12%. Past Performance of XDC A falling trend within a descending parallel channel for the past two months accounted for a 50% drop in the XDC market value. Additionally, the downfall resulted in a price drop to the $0.022 mark From the height of $0.0478. However, the bullish reversal from the $0.022 mark teases a price jump above the resistance trendline with the recently forming morning star pattern. Source- Tradingview XDC Technical Analysis The price of the XDC token Has increased by 2.47% in the last 24 hours resulting in a bullish engulfing candle Completing the Morning Star pattern. The reversal pattern forming at the area of interest increases the likelihood of a bullish breakout rally. The MACD indicator Shows the sideways trend leading to a bullish crossover of the fast and slow lines teasing an increasing pressure. Moreover, the RSI indicator shows a bullish reversal in the oversold zone to test the 14-day SMA. In a nutshell, the XDC price analysis forecasts a growing possibility of a bullish breakout of the falling channel. Upcoming Trend X...

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