XDC Network: XDC Bulls Have Made a Gain of 18% On Monday    

• 1 XDC uses a hybrid blockchain which includes some unique features.
• 2 The bullish investors have taken the coin to the immediate resistance level.

XinFin Digital Contract (XDC) Network, also known as XDC Network, is a blockchain platform striving to bridge the gap between traditional and decentralized finance (DeFi). 

The platform uses a hybrid blockchain model that combines the best features of both public and private blockchains to create a reliable and efficient ecosystem. The hybrid architecture of the XDC Network enables seamless interoperability between public and private networks. 

It helps in providing flexibility for enterprises, institutions, and developers to deploy applications that suit their specific needs.

More About XDC Network

The network operates on both public and private blockchains, allowing anyone to participate as a network validator or utilize the network for various decentralized applications. Private networks offer enhanced privacy and control over data, while still leveraging the XDC Network’s consensus mechanism and interoperability features.

XDC Network aims to address the limitations of existing financial systems by offering fast and cost-effective transactions, smart contract capabilities, and interoperability across different networks. 

The network leverages the XDC utility token to facilitate transactions and power the network’s functionalities. One of the strengths of XDC Network is its focus on enterprise use cases, which provides a suitable environment for businesses, financial institutions, and governments. 

With the help of it, these institutions can leverage blockchain technology for improved efficiency, transparency, and security. 

The network’s architecture enables private transactions for sensitive business operations while still ensuring public visibility and auditability when required. XDC Network also adheres to legal frameworks and implements know-your-customer (KYC) and anti-money laundering (AML) measures to create a trusted and regulated environment for financial activities. 

Technical Analysis & Prediction of the XDC Coin Price 

At press time, the XDC coin price is trading at the level of $0.0493. The bullish investors have risen above the demand zone after consolidating in the range for more than 2 months. 

After an 18% gain on Wednesday, the XDC coin reached the immediate resistance level of $0.05702. If the bulls can break this resistance level, then the target price could be near $0.06689.

Moreover, the RSI has already reached its overbought level of 70 and hence the bulls have lost some control. However, the price prediction will be bullish if the current resistance is broken, otherwise, it may take a look towards the $0.046 level.

Conclusion

XDC network aims to bridge the gap between traditional and decentralized finance. It uses a hybrid blockchain model that combines the features of public and private blockchains. In the daily time frame chart the XDC coin price has reached near its resistance which is triggering a sell-off.

Technical Levels

• Support Levels:  $0.046 and $0.037
• Resistance Levels: $0.057 and $0.066

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 in stocks, cryptos or related indexes comes with a risk of financial loss.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.