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- 1 XAI coin price surged over 25% in the last three trading sessions.
- 2 Buyers have gained traction and are keen to surpass the $1 mark.
The newly launched coin (XAI) started trading on January 9, 2024, and shooting up by 3800% from the bottom mark, highlighting strong investor interest. XAI coin price is trading inside a rising channel and is close to its support zone of $0.8500 near the 20-Day EMA mark. The trend is intact, and higher high swings were spotted on the chart, which conveyed the buying momentum.
XAI coin is trading in an uptrend and may soon retest its highs above $1. Moreover, the price action signifies the base formation is near $0.6600, and a rebound was witnessed in the last few sessions. Afterward, buyers persisted in accumulation and decisively lifted the coin price. Per the Fib levels, the coin price has crossed the 38.2% zone and is yet to surpass the 50% zone.
This cryptocurrency’s price was $0.8586 at press time, with an intraday gain of 1.19%, displaying buying momentum. Moreover, the trading volume increased by 60.10% to $199.05 Million, highlighting investor interest. The pair of XAI/BTC was noted at 0.0000203 BTC, while the market cap is $238.79 Million. Analysts are bullish and suggest the coin price will retain its highs and continue to spray gains in the following sessions.
XAI On Hourly Chart Reflects Base Formation
On the hourly charts, XAI price has breached its falling trendline and rebounded by making a base near $0.6600. Afterward, the coin rolled back away from its 200-day EMA mark, highlighting bullishness. The coin is preparing to escape the supply zone of $0.9300 to make a path toward the high of $1. Due to the market volatility, the coin has taken a nap from its bull move and is sustaining gains close to $0.8600.
The RSI curve stayed above the midline and is forming a positive divergence indicating the buying momentum. The MACD indicator shows a bullish crossover and suggests the bullishness will continue into the coming sessions.
XAI On 4 Hour Chart Exhibits Rounding Bottom Formation
On the 4-hour chart, a rounding bottom formation was witnessed and the coin pulled back from the support zone of $0.6800 in recent sessions. Moreover, the coin price has retained the 20-Day EMA spot and is heading toward the high of $1. Amidst the market volatility, the coin gives an initial dip as a buying opportunity for the investors and takes a sharp upward move.
Summary
XAI coin is trading in a bullish way and is replicating buying momentum over the past few sessions. Moreover, the coin forms multiple bullish signs, which give a conviction that it may reclaim its swing high above $1 in the following sessions.
Technical Levels
Support Levels: $0.8400 and $0.8200
Resistance Levels: $0.8700 and $0.9000
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
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.
