eCash Price Analysis: Will XEC again Showcase its Potential?


  • XEC down approximately -0.03% within the last 24 hours.
  • First support level for eCash is at $0.00003943.
  • XEC/USD trades near $0.00004045.
  • eCash shows bearish momentum over the weekend.

03 October 2022 : In this article we will walk you through eCash price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for eCash, Is XEC a good investment? eCash support & resistance levels etc. But before diving deep into the XEC technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $936,642,515,083. The total trading volume stands at $53,583,320,840. Bitcoin shares 39.69 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,389.79 level after an upward movement of 0.96%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.54 percent reaching to $1,317.86 during the previous 24 hours.
While publishing this blog, BNB traded at $287.12, following a price change of 1.38% within the same time frame. XRP the native coin of XRP is down by -1.87 and currently trading at $0.45. Additionally, Cardano reached $0.42 after seeing a decline of -0.04% 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.

eCash 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 eCash (XEC)

XEC Resistance Levels XEC Support Levels
Resistance Level 1 $0.00004243 Support Level 1 $0.00003943
Resistance Level 2 $0.00004371 Support Level 2 $0.00003771
Resistance Level 3 $0.00004543 Support Level 3 $0.00003643

eCash Performance

The daily chart of eCash shows that the XEC price has a downward movement with a -0.03% decrease in past 24 hours. The price value of the eCash (XEC) coin is standing at $0.00004045 with market capitalization $776,173,177.00 USD. XEC price changes -0.54% over the week while the trading volume is hovering around $5,044,049.00 USD.

eCash Price Analysis

XEC price analysis for 03 October 2022 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 eCash.

Moving Averages Price Indicator
Simple Moving Average (10) 0.00004070 Sell
Exponential Moving Average (10) 0.00004075 Sell
Simple Moving Average (20) 0.00004085 Sell
Exponential Moving Average (20) 0.00004086 Sell
Simple Moving Average (50) 0.00004228 Sell
Exponential Moving Average (50) 0.00004223 Sell

The XEC/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. RSI implying near overbought phase while trading at 67 and is trying to break out of the neutrality zone. In accordance with the conventional pivot, the crucial immediate resistance for XEC may be found at $0.00004243, followed by $0.00004371. In the meantime, the cryptocurrency's support levels were located at $0.00003943 and then $0.00003771. While XEC’s Williams %R indicator is at -20 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

eCash 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.