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XDC Network price analysis: XDC token Price corrects down to $0.0615 amid bearish markets

XDC Network price analysis: XDC token Price corrects down to $0.0615 amid bearish markets
TL;DR Breakdown
  • XDC Network price analysis shows a downtrend.
  • Price has decreased up to the $0.0615 level.
  • Support for XDC is present at the $0.0611 level.

The XDC Network price analysis shows the bears have been able to suppress the price levels below the $0.0627 level during the latest downtrend. The bears are reigning the price charts as the price has decreased again during the day. Currently, it is settled on the $0.0615 mark and is expected to decrease to an even lower level in the coming hours as well. The bearish momentum is to extend in the future as well as the broader cryptocurrency market is predicting a downtrend.

XDC/USD 1-day price chart: XDC unable to withstand the bearish pressure

The 1-day price chart for XDC Network price analysis shows the price has decreased quite steadily because of the constant increase in bearish momentum. Bears have been able to decrease the price to $0.0615 at the time of writing, and a further decrease is also expected during the approaching hours. The moving average (MA) value is still standing high as compared to the current price, i.e., $0.0626. The SMA 20 curve is going higher as well because of the previous bullish trend.

XDCUSD 1 day price chart 2022 05 08
XDC/USD 24-hours price chart. Source: Tradingview

The volatility has increased as well because of the expansion in Bollinger bands. As a result, the upper and lower Bollinger band values have been altered as now the upper value is at $0.0668 while the lower value is at $0.0514; the lower value also represents the support for the XDC price. The Relative Strength Index (RSI) score has decreased but is in the neutral limit and is settling at index 55; however, the downwards curve of the indicator is hinting at the selling pressure in the market.

XDC Network price analysis: Recent developments and further technical indications

The 4-hours XDC Network price analysis is showing signs of bearish activity taking place as the price has decreased to a considerable level. The price is standing on the $0.0615 mark at present and is expected to move even lower in the upcoming time period. However, sins of support are also appearing as a small green candlestick is emerging. Other important indicators in the 4-hours price chart are the Moving Averages (MA) indicator and Bollinger bands indicator, which are at $0.0623 and $0.0627 levels, respectively.

XDCUSD 4 hour price chart 2022 05 08
XDC/USD 4-hours price chart. Source: Tradingview

The volatility is high in the four-hour chart, which may provide a chance for bulls to uplift the price levels in the future price movement. The upper value of the Bollinger bands Indicator has reached $0.0655 while the lower value has reached $0.0599. The RSI score is moving up again as the buying activity resumed again in the market and has reached index 42.

XDC Network price analysis conclusion

The above 1-day, as well as the 4-hours XDC Network price analysis, confirm that the bears have been maintaining their lead quite successfully for the past few days after the price last peaked at $0.0656. The price has decreased today as well and is standing at the $0.0615 position at the time of writing, and the bearish momentum may intensify in the coming hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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