XEC Price Analysis: XEC/USD is bearish for the next 24 hours
TL;DR Breakdown
- XEC price analysis is bearish today.
- The price of eCash started today at $0.00025635, the lowest price being $0.00024588.
- XEC/USDT trading pair will remain bearish if Bitcoin doesn’t regain support levels at $43K.
XEC price prediction today will depend on many factors that influence the coin price. As represented by the data on Coinmarketcap, the market capitalization of the cryptocurrency has fallen by 3.22%. This fall in market cap was due to the decrease of 56.27% in the trading volume for eCash in the past 24-hours. The trading volume fell to 175 million USD while the market cap is at $4.7 billion.
We can see in the 4-hour charts that the price action has been mostly bearish today. Furthermore, looking at the movement from the past few days, we can see a price drop of 7.74 percent on 24th September, while on 28th September, we saw a rise of 10.14 percent. This makes eCash worth investing in.
Today’s pricing is $0.00025636 for XEC/USDT, with the lowest price observed being $0.00024588. The greatest value seen today was $0.00027. Bitcoin remains in support at around $41K, and this is the 10th time we’ve witnessed a retest of this level. Many people are hopeful that this could start a new bull market.
The XEC/USD pair is likely to remain bearish for the next 24 hours if Bitcoin doesn’t regain support levels at $43K. The next key resistance level for the coin is at $0.000276, followed by $0.00029. The coin is strongly supported at $0.00024, 8th September’s low.
XEC price analysis: Technical indicators still bullish
eCash’s short-term technical indicators point to a rather bullish scenario in the near term. Even though the price movement is positioned in the upper end of the Bollinger Bands on the 4-hour chart, we saw a red engulfing candle, after which there was a 5.18 percent drop in value.
The coin price is above both the 50-day and 100-day Moving Averages, suggesting that the value of the currency will rise soon. This is a bullish outlook on the 4-hour chart, which indicates an upwards trend.
XEC price prediction on the chart by TradingView
The RSI and MACD indicators illustrate the price of bitcoin on the 4-hour chart. On the 4-hour chart, the MACD indicator has a bearish crossover, suggesting that the price movement will become negative in the short run owing to this crossing over of the signal line by the MACD line.
Furthermore, the RSI levels are above 50, indicating that buying is still more popular than selling. The gradient of the RSI line is somewhat negative, implying that lower prices could be expected.
XEC Price Analysis: Conclusion
Although XEC may have seen a price decline, the analysis of the XEC price suggests that it is bearish in the short run. The major resistance at $0.00025683 has yet to be broken, and the price action is presently testing the $0.00024672 support level.
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.
