02 December 2023 : In this article we will walk you through XDC Network price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for XDC Network, Is XDC a good investment? XDC Network support & resistance levels etc. But before diving deep into the XDC technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,453,850,944,222. The total trading volume stands at $48,236,245,537. Bitcoin shares 52.08 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $38,717.08 level after an upward movement of 1.86%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.06 percent reaching to $2,091.46 during the previous 24 hours.
While publishing this blog, BNB traded at $229.13, following a price change of 0.1% within the same time frame. XRP the native coin of XRP is up by 0.2 and currently trading at $0.61. Additionally, Solana reached $60.89 after seeing a uplift of 0.41% 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.
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 XDC Network (XDC)
|XDC Resistance Levels||XDC Support Levels|
|Resistance Level 1||$0.032||Support Level 1||$0.031|
|Resistance Level 2||$0.033||Support Level 2||$0.031|
|Resistance Level 3||$0.033||Support Level 3||$0.030|
The price of XDC Network (XDC) is at $0.049, up 0.8% in the past 24-hours and has a price change of -3% over the week. One day trading volume for BTC is 13,692,561.00 USD while total marketcap reached $674,517,284.00 USD. There are almost 13,881,208,588 are in circulation out of 37705012699.
XDC price analysis for 02 December 2023 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 XDC Network.
|Simple Moving Average (10)||0.032||Buy|
|Exponential Moving Average (10)||0.032||Buy|
|Simple Moving Average (20)||0.032||Buy|
|Exponential Moving Average (20)||0.032||Buy|
|Simple Moving Average (50)||0.029||Buy|
|Exponential Moving Average (50)||0.029||Buy|
RSI implying near overbought phase while trading at 57 and is trying to break out of the neutrality zone. While XDC’s Williams %R indicator is at -28.994 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The XDC/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.
From the technical analysis, the overall trend of the XDC Network is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if XDC manages to stay above $0.031, it can provide an excellent long opportunity for XDC communnity.