- XDC is trading at $0.1471 after gaining over 12%.
- The XDC Network recorded a daily trading volume of $162 million.
Following a brief recovery, the crypto market opened the day with a touch of green with Bitcoin climbing to $101K. Leading altcoins, including XRP, Solana, Cardano, and TRON, recorded moderate upticks. Notably, the Fear & Greed Index held steady at 57 in the neutral range.
Turning toward the altcoins, XDC Network (XDC) emerged as one of the top gainers, displaying a surge of over 12.72% in the past 24 hours. It was traded at a low of $0.1301, in the early hours. Later, the asset has soared to a high of $0.1482.
At the time of writing, the asset trades at $0.1471 with its market cap at $2.19 million. The asset’s daily trading volume has reached $162 million.
XDC has gained over 57.60% in the last seven days. It opened the week trading at $0.09303 and gradually managed to climb to the current trading level.
The Bullish Prospects of XDC
The four-hour trading pattern of the XDC/USDT pair looks bullish. The asset’s nearby resistance is found at $0.1473. Extended gains could drive it to maintain the bullish zone. If the upside momentum stays, the crucial range might be between $0.15 and $0.16.
However, a slight bearish pressure might pose some risks, pulling back the XDC price to $0.1467. A steady breakdown of the asset from this range will trigger a steep downside correction toward its former lows in the $0.14-$0.13 range.
The Moving Average Convergence Divergence (MACD) line of XDC has crossed above the signal line. This indicates the bullish crossover and upward momentum in the asset’s price. Traders often interpret this as a potential buy signal.
In addition, the Chaikin Money Flow (CMF) indicator is positioned at 0.18, suggesting a positive money flow and buyers are dominating the market. Meanwhile, the asset’s daily trading volume has increased by over 14.91%.
Moreover, the 24-hour chart of the asset exhibits the short-term 9-day moving average above the long-term 21-day moving average. XDC’s daily relative strength index (RSI) at 69.08 suggests upward momentum and the asset is nearing overbought territory.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Highlighted Crypto News
