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- The recent price of Ecash is $0.000035 with a 24-hour trading volume of $16.25 million USD.
- ECash is down 2.35% in the last 24 hours.
- The XEC found support at the price level of $0.0000322293
ECash formed a severe downtrend for quite a while since November 2022, till now, making consistent lower highs and lows. However, XEC recently took support from the price of $0.0000210718, which also marked resistance of its earliest consolidation and gave us a big move of 104.15%.
The market favors the bears as it recently took resistance from a price of $0.0000440062 taking a correction of 22%. It is yet to be observed whether the market will continue its bull trend by taking its nearest support or will it move in the favor of the bears as earlier.
Chart Tale
The price of XEC recently crossed the 200 EMA line, white line at the uppermost level, but could not sustain above it so after taking rejection from the 200 EMA, the 100 EMA (light blue line) can become XEC token’s most recent support which correlates with the price action.
The stochastic RSI has reached the oversold level at 3.41 point and the RSI curve suggests that it might soon take a reversal from that point with buyers’ support it might soon start moving in the bulls’ favor going to the oversold levels.
XEC for 2023
According to the previous movements, XEC prices have tested the support near $0.000035, and then formed an uptrend beyond $0.000045. A similar pattern is predicted to occur in the coming quarters. The XEC prices may find a spot to hold near $0.000050, after which it may face resistance. The analysts categorize XEC as suitable for long-term investment.
Conclusion
The XEC token is showing us some positive signs of recovery and it might go in the bulls’ favor if XEC gets the buyers’ support at the current levels, but this can not be confirmed until the price crosses the 200 EMA gives us a close above it. Although, if XEC does close above its current resistance, chances are that the holder will be in for a strong bull trend.
Support- $0.0000322293
Resistance- $0.0000441874
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
