Home
News
- XEC price is currently trading at $0.0000319 while seeing a change of -76% in 24-hour trading volume.
- The XEC price is observing an increase of 1.71% in the last 24 hours.
eCash operates on a unique cash fusion protocol which allows the user to maintain their anonymity. eCash is designed to act as a means of transaction that is used to pay for goods and other services. The developers are planning to improve the payment experience of eCash coin by reducing the transaction processing time.
The XEC price is currently trading within a symmetrical triangle. The making of this triangle pattern indicates that the price will start making a lower high and higher low pattern. However, because the price is trading at the mid-stage of the pattern, the investors might expect the continuation of this price action for the week before a breakout out is made. The overall price action is giving volatile movements which can be observed in the historical price action near the consolidation zone.
XEC Price is Trading Within a Symmetrical Triangle (1-Day Timeframe)
XEC price, after breaking its consolidation pattern around early November fell by 42%. Following this, eCash price gained buyers’ support and after making the bullish cup with a handle pattern around early January, the price climbed 81%.
However, it did not sustain and made a bearish correction of almost 30%. Also, the price action suggests that the buyers have bullish sentiments regarding eCash.
Technical Analysis (1-Day Timeframe )
XEC’s movement within the triangle suggests that buyers are pushing the price up whereas the sellers are pushing the price down. Which often results in the buildup of a trading force and a breakout with strong momentum. It is currently facing critical resistance from the 100 EMA where the 200 EMA is trading just above it. Hence, the price will require buyers’ strong support to make a positive breakout.
The RSI line is currently trading above the median line where it is taking consistent support from the 14 SMA. The current value of RSI is 53.07 points whereas the 14 SMA is trading at 49.72 points.
Technical levels –
Support -$0.000031
Resistance – $0.000041
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
