Home
News
- 1 The XDC price prediction has revealed a sign of recovery as the price spiked from a crucial level.
- 2 The XDC price action’s upward trend and the surge over the last two weeks indicate a gradual surge in TVL.
The XDC network displays that the TVL was at its peak around August 2023 but began to slump afterward. The decline in TVL highlights that the demand for XDC asset-based projects is falling, and its consumers’ willingness to stay invested is decreasing.
The TVL is often seen as an indication of confidence in the XDC Network protocols. The decrease in XDC’s popularity has caused its new users and investors to lose faith in getting involved with the project. This, in turn, has led to a fall in XDC’s price. Furthermore, this trend indicates that the participants in the XDC protocol will receive fewer benefits and profits if it continues.
Typically, when the TVL of the DeFilama platform increases, liquidity, popularity, and usability also increase for XDC. Conversely, a decrease in XDC Network’s TVL would result in a loss of available capital, leading to lower returns.
Source: TVL By Defilama(dot)com
However, the XDC graph’s upward trend and the price surge from the last two weeks indicate a gradual surge in TVL. If the TVL continues to rise, the XDC token will also increase.
Price, Volume, Volatility, & Market Cap Significance Over XDC Crypto
The token volume, price, and market cap highlight the fluctuations in buying and selling XDC crypto. The incline and decline in these metrics display variability in the XDC Network token price and these metrics shape the major price action on the daily chart.
Moreover, higher market capitalization often provides better liquidity as it assists in investing and buying or selling XDC assets more quickly and easily. It even assists in renowned management over the investment done on XDC Network and aids in potentially improving its investors’ returns.
Similarly, it appears to be an essential part of considering the trading volume in conjunction with the market cap. A high market cap is observed on the chart of XDC with high trading volume, this might indicate vast liquidity, making it easier to buy or sell without affecting the price.
The chart exhibits the contrast between volatility and price movement in the XDC Network crypto asset. On examination, it displays that the XDC crypto has witnessed some growth in recent sessions, and the volatility has advanced as well. It portrayed less stability in the price earlier, due to which XDC Network price showed a pullback with the decline in volatility.
XDC Price Prediction: Will It Fly Higher And Hit $0.060 Mark?
The XDC price has experienced an upward trend, starting from a demand zone of $0.03000, reaching a major supply level of $0.09300 by August 2023. However, the price failed to maintain its high level and started to decline, reaching a support level by the end of February 2024.
However, the XDC Network crypto has revealed a sign of recovery as the price spiked from a crucial level of around $0.03977 on the chart.
Now, the crypto token is set for a colossal surge as it gears up to crack the XDC resistance level and rocket to new zeniths.
Similarly, the XDC asset is displaying bullish strength and rising capacity as it sustains above major 20, and 50-Day EMAs. In the same way, the asset is displaying bullish behavior as the MACD is above the zero line at 0.001180, the signal line is at 0.00052, and the histogram is at 0.00065. These metrics show a bullish cross in the indicator.
Likewise, the RSI is not near the 70 level yet and has been above the 14-SMA at 59.07, meaning that the XDC asset is not facing much resistance and could extend the gains.
The price of the asset is displaying bullish signs, with TVL, MCAP, and volatility suggesting potential for further growth. Also, it has performed well in the past week by 4.00%, and month by 10.02%, suggesting the beginning of a possible strong uptrend.
According to XDC price prediction, the crypto declined 2.90% in the last 24 hours, trading at $0.04778 at press time. Therefore, if the demand for the XDC token surges abruptly, the asset price could continue advancing from the current level. Then the next goal for the price could be to reach $0.06000 and the resistance would likely be from $0.05350.
However, if the crypto price fails to stay above the $0.03977 level, it could continue to decline further.
xdc bullish by Sam_TCR on TradingView.com
Summary
The XDC graph’s upward trend in the last two weeks indicate a gradual surge in TVL while a high market cap and high trading volume indicate vast liquidity, making it easier to buy or sell without affecting the price.
XDC has revealed a sign of recovery as the price rose from a crucial level of around $0.03977 on the chart. If the demand for the XDC token surges abruptly, the asset price could continue advancing from the current level. Then the next goal for the price could be to reach $0.06000 while $0.05350 is likely to offer resistance.
Technical Levels
Support Levels: $0.03977
Resistance Levels: $0.05350
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency 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.
