- The XDC price closed the previous day’s trade at INR 4.12 with a market capitalization of INR 66.39 Cr and a circulating supply of 1231 Cr XDC
- The asset is swinging within a decisive phase carrying equal possibilities of a 10% jump or a 10% plunge
XDC Network(XDC) Technical – Analysis for the Month
The price since the beginning of the month is slashing towards the south. Forming multiple lower highs and lows, the price is heading towards the apex of the consolidation. A breakout from these ranges may ignite a rally towards INR 5. Or else if the bears restrict the price then the asset may hover below INR 4 by the end of the month.
XDC Network(XDC) Technical Analysis at a Glance
The XDC Network after smashing double-digit figures has lost more than 70% of its value. And hence appears to have deeply stuck up in a bearish well that has intensified since the beginning of 2022. Yet the price is expected to consolidate within the narrow ranges until it finds the right momentum to slice through the accumulation.
|Short-Term||The XDC price is rising in STF but may encounter a correction very soon|
|Mid-Term||The asset may drop a little as the price appears to be a little exhausted|
|Long-Term||The XDC price is dropping hard as the selling volume is accumulating hard with a possibility of a flip|
Additional Read: What is XDC Network?
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||51. 25 / 45.00||Neutral / Neutral|
|MACD(12,26)||0.0 / -0.00||Neutral / Sell|
|Average Directional Index(ADX)||23.50 / 19.82||Sell / Neutral|
|Bull-Bear Power||0.0005 / -0.0017||Buy / Sell|
|Moving Average(MA)-50||INR 3.82||INR 4.13|
|Moving Average(MA)-200||INR 4.13||INR 5.88|
|Resistance||INR 4.53||INR 7.2|
|Support||INR 3.81||INR 3.58|
|Average True Range(ATR)||0.0002||0.0015|
The XDC Network forecasts a huge possibility of an interim surge fueled by the growing strength of the bulls. However, after a significant upswing, the XDC prices may slash heavily as the long-term forecast is extremely bearish. Also, the asset is less volatile in both the time frames, and hence no drastic change may be expected.
XDC/INR Technical-Analysis for Short-Term
- The XDC price in the short-term is swinging within a symmetrical triangle carrying both the possibilities of a breakout or a breakdown
- The price may rise high to hit the upper resistance and quickly drop to the lower support and may encounter a crucial decisive phase
- If the price breakout, it may spike towards the levels around INR 4.5 to INR 5, still lower than the monthly highs
- Else a price drain may drag the price to the lower support at INR 3.81 which appears largely unlikely at the moment
XDC/INR Technical Analysis for Long-Term
- The XDC price has been trending within a huge descending triangle for a pretty long time.
- XDC price failed each time it attempted to slice through the consolidation and formed multiple lower lows and highs
- The price is expected to slice through the lower pivotal support if in case the asset fails to slice through the upper consolidation in the next couple of hours
- However, the asset may retest the support levels again and if held, may nullify the bearish trend or else dive deep down discovering new support levels
Additional Read: XDC Price Prediction.
Where & How to Buy XDC Network(XDC)
CoinDCX is the one-stop solution for all your requirements related to buying or selling any crypto assets. Just download the CoinDCX App on your Smartphone and follow the instructions. After a successful verification, fund your wallet and buy XDC Network (XDC).
Investing in any of your cryptocurrencies has become easier and more secure with CoinDCX’s Crypto Investment Plan(CIP). Here you can invest in any cryptocurrencies in simple weekly installments. Therefore, start investing in Bitcoin & other cryptos with Crypto Investment Plan now!
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.