TL;DR Breakdown
- XEC price prediction for today is bearish as the coin is down by 2.45%.
- 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 price of the coin. 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.
Considering today’s price, the market began with a price of $0.00025636 for XEC/USDT, while the lowest price recorded today was $0.00024588. The maximum price seen for today is $0.00027. Currently, Bitcoin is still in the $41K support levels, and this is the 10th time we have seen a retest for this level. Many analysts consider that October will be bullish for BTC.
XEC price analysis: Technical indicators still bullish
The technical indicators on the 4-hour chart show a rather bullish scenario in the short term for eCash. Although on the 4-hour chart, the price movement is situated in the upper end of the Bollinger Bands, we have seen a red engulfing candle that led to a price fall of 5.18 percent.
The coin’s price movement is above the 50-day and the 100-day Moving Averages, which shows that the coin’s price will rise in the short term. This is a bullish scenario on the 4-hour chart indicating an uptrend.
The price of the cryptocurrency on the 4-hour chart below is represented using the RSI and the MACD indicators. The MACD indicator shows a bearish crossover on the 4-hour chart. This means that the price movement will turn bearish in the short term as the MACD line has crossed over the signal line.
Furthermore, the RSI levels represent a value above 50, which means that buying is still more than selling. The RSI line’s gradient is slightly negative, i.e., lower prices might follow.
XEC price analysis: Conclusion
The XEC price analysis can be concluded on a bearish note for the short term as the price action is still below the major resistance at $0.00025683. If this resistance is broken, we can expect higher prices to follow, but currently, the price action is testing the support at $0.00024672.
Until you wait for the market to turn bullish, you can look at our major price predictions for the long term.
