XDC Bulls Face Resistance at $0.092 – Will Momentum Hold?
- XDC surged 24.37%, trading at $0.09108 with a $1.42B market cap.
- RSI at 67.91, nearing overbought levels, suggesting potential correction.
XDC Network (XDC) saw a 24.37% surge in the last 24 hours, trading at $0.09108. Its market cap also climbed to $1.42 billion, reflecting the same percentage gain. The trading volume rose 1.26%, reaching $36.09 million, with a market cap ratio of 2.5%.
XDC is facing a strong resistance near $0.092. If the price breaks above this level, further upside could push it toward $0.095 or higher. However, if it fails to sustain, it might pull back toward the $0.089 support level. A break below this support could lead to further downside, potentially testing $0.087.
Technical Indicators Signal Strength
The Relative Strength Index (RSI) is currently at 67.91, nearing the overbought zone. The RSI moving average stands at 70.05, suggesting that buying pressure has been strong. If RSI crosses above 70, it would indicate an overbought condition, which could trigger a short-term correction. Conversely, a pullback toward 50 would suggest a cooling-off period before another move.
The short-term moving average of XDC remains above the long-term moving average, reinforcing a bullish outlook. The moving average crossover signals continued strength, but the market needs sustained volume to push higher. If the price remains above $0.091, it could confirm an uptrend. However, a bearish crossover could indicate weakness, leading to consolidation or a decline.
The Chaikin Money Flow (CMF) indicator is currently at -0.22, showing weak buying pressure. A negative CMF value suggests that capital outflows exceed inflows, indicating that traders are taking profits. For a sustained rally, CMF must move back into positive territory. A CMF above zero would confirm renewed buying interest.
XDC’s price action suggests bullish momentum, but traders should monitor resistance at $0.092 and support at $0.089. A breakout could drive further gains toward $0.095, while a failure may result in short-term consolidation.
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