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.
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||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.
Additional Read: XDC Price Prediction.
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