XDC Network Price Analysis: Will XDC maintain above $0.031


  • The EMA(50) is currently at $0.029.
  • XDC/USD trades near $0.023.
  • Support for the bears has been established at $0.031
  • XDC’s intraday volume stands at $2,893,482.00.

08 December 2022 : 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.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $842,621,011,326. The total trading volume stands at $37,034,644,737. Bitcoin shares 38.52 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,883.80 level after a decline of -1.12%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.73 percent reaching to $1,235.02 during the previous 24 hours.
While publishing this blog, BNB traded at $284.58, following a price change of -1.88%within the same time frame. XRP the native coin of XRP is down by -1.54 and currently trading at $0.39. Additionally, Dogecoin reached $0.096 after seeing a decline of -3.9% 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.

XDC Network 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 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

XDC Network Performance

The price of XDC Network (XDC) is at $0.023, down -0.91% in the past 24-hours and has a price change of -5.75% over the week. One day trading volume for BTC is 2,893,482.00 USD while total marketcap reached $279,583,530.00 USD. There are almost 12,305,012,699 are in circulation out of 37705012699.

XDC Network Price Analysis

XDC price analysis for 08 December 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 XDC Network.

Moving Averages Price Indicator
Simple Moving Average (10) 0.032 Sell
Exponential Moving Average (10) 0.032 Sell
Simple Moving Average (20) 0.032 Sell
Exponential Moving Average (20) 0.032 Sell
Simple Moving Average (50) 0.029 Sell
Exponential Moving Average (50) 0.029 Sell

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 Network has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take XDC price below the crucial support level of $0.031. 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.

Conclusions

The value of XDC is continuously dumping but it is expected that support levels at $0.031 and $0.031 will act as crucial points and bounce the trend line in the bullish zone