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- 1 XEC price prediction says the recent move is powerful and bulls may try to push the price to further highs.
- 2 eCash price jumped 23% in the last sessions and attempted to break the July 2023 high.
- 3 The short-term trend of eCash cryptocurrency is in an upward direction.
XEC price prediction says bulls are finally back and likely to push the price upward in the short run. It surged 23% in the last trading session and buyers are trying their best to give the follow-up.
eCash crypto formed a giant bullish candle and attempted to break the six-month high. However, the price is facing resistance in the supply zone so the confirmation of the breakout is awaited.
XEC crypto witnessed a massive spike in buying volume and the price also got positively impacted. It is an indication of whales active who might have turned bullish.
In the last few months, XEC price consolidated and showed signs of accumulation. Therefore, it seems like the accumulation phase is over and the time for the trending move has arrived. If the buyers are strong and succeed in breaking the six months high, the next phase of the rally will trigger.
After analyzing the chart pattern of eCash crypto, it can be said that bulls are dominating so the possibility of a breakout remains high.
Currently, the pair of XEC/USDT is trading at $0.00003916 with a one-day downtick of -2.54%. The 24-hour volume to market cap ratio stands at 0.2526.
XEC Price Analysis: Will Bulls Take the Control and Lead the Rally?
XEC price is on a slow and steady rise. The next directional move will be visible when buyers can break out of the $0.00004564 hurdle. However, if the price faces rejection, it may again retrace back to the 50-day EMA.
Till the price sustains above both the EMAs the trend will be in an upward direction. So, any minor retracement toward the support will be an opportunity for investors to build fresh longs. The analysis suggests bulls are taking control so they might lead the rally in the coming months.
eCash Price Gained Momentum; What’s Next?
eCash price gained momentum and bulls seem to have woken up from the long consolidation. After a sudden rise, minor profit booking is obvious. Yet, if the price slips below the 50-day EMA, it might raise concern for the investors.
The MACD sustained above the zero line and displayed a positive crossover. It showcases the presence of bulls and more upside is pending. The RSI at 63 indicates the strength in the recent move and denotes bulls are winning the battle.
Conclusion
XEC price prediction suggests the bulls are back and new highs may be visible. The chart pattern had turned bullish so more scope for upside is pending.The analysis suggests that the eCash price is inside the bulls’ grip and the possibility of the $0.00004564 breakout is high.
Technical levels
- Resistance levels: $0.00004564 and $0.00005000
- Support levels: $0.00003500 and $0.00003007
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. 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.
