Chia Price Analysis: XCH Plunge -1.41%, How Low Will It Drop?


  • Chia’s EMA(10) shows a downward trend.
  • XCH faces medium-term resistance at $34.07.
  • The current trading volume of Chia is at $3,434,049.00.
  • Bears control XCH’s current price actions.

27 April 2024 : In this article we will walk you through Chia price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Chia, Is XCH a good investment? Chia support & resistance levels etc. But before diving deep into the XCH technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,324,154,154,074. The total trading volume stands at $64,722,371,706. Bitcoin shares 53.36 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $62,975.54 level after a decline of -2.03%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -0.65 percent reaching to $3,117.81 during the previous 24 hours.
While publishing this blog, BNB traded at $594.26, following a price change of -2.58%within the same time frame. SOL the native coin of Solana is down by -4.69 and currently trading at $136.47. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Chia Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Chia (XCH)

XCH Resistance Levels XCH Support Levels
Resistance Level 1 $32.90 Support Level 1 $30.57
Resistance Level 2 $34.07 Support Level 2 $29.41
Resistance Level 3 $35.23 Support Level 3 $28.24

Chia Performance

The daily chart of Chia shows that the XCH price has a downward movement with a -1.41% decrease in past 24 hours. The price value of the Chia (XCH) coin is standing at $30.99 with market capitalization $167,612,310.00 USD. XCH price changes -1.63% over the week while the trading volume is hovering around $3,434,049.00 USD.

Chia Price Analysis

XCH price analysis for 27 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Chia.

Moving Averages Price Indicator
Simple Moving Average (10) 31.77 Sell
Exponential Moving Average (10) 31.76 Sell
Simple Moving Average (20) 32.66 Sell
Exponential Moving Average (20) 32.57 Sell
Simple Moving Average (50) 34.29 Sell
Exponential Moving Average (50) 34.19 Sell

The MACD line is standing below of the signal line after a crossover. Chia investors need to wait for any directional change over the daily chart. The Relative strength index (RSI) for XCH Coin is currently hovering at 17 for 14-days average line, which means XCH is in oversold zone and a trend reversal is possible. While XCH’s Williams %R indicator is at -74.099 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The immediate resistance for XCH is found at $32.90, and a breakout from this level could leads towards the next resistance, which can be found at $34.07. On the other hand, if the bear take control and XCH price fails to break out above $32.90, it could fall back towards the crucial support at $30.57.

Conclusions

Chia is now experiencing a significant bearish trend, this does not necessarily imply that the cryptocurrency is in any type of precarious situation that cannot be rectified. Even if the price is falling steadily, it is anticipated that the two support levels will serve as strong barriers and cause the trend line to rebound back into the positive zone.