Will XDC Price Reach $0.093 Mark?

The XDC price prediction suggests that XDC cryptocurrency has the potential to rebound from its current position and reach $0.093. To initiate this recovery and break out of the current consolidation phase on the daily chart, XDC crypto needs to attract more buyers. In July 2023, XDC reached its peak at $0.093 but couldn’t sustain this level, resulting in its current value in August 2023. Currently, XDC cryptocurrency is awaiting a strong upward momentum to move towards the distribution phase on the daily chart.

XDC’s price was at $0.05894300 and lost 0.19% of its market capitalization during the day’s trading session. Trading volume has decreased by 10.54% during the intraday trading session. This demonstrates that sellers are still present in the trade to pull XDC crypto downwards. The volume to market cap ratio was 1.52%.

When will XDC Price Initiate Recovery?

XDC price prediction highlights the struggle of XDC crypto at the current level in order to initiate its recovery phase. However, XDC crypto needs to increase the accumulation rate of buyers in order to start its recovery from the current level. However, the volume change can be seen below average and needs to grow in favor of buyers during the day trading session. Meanwhile, XDC crypto is trying to maintain above 20, 50, 100, and 200-day daily moving averages.

To break free from its consolidation phase and achieve a $0.093 recovery level, XDC cryptocurrency must attract potential buyers. Notably, XDC crypto experienced a 16.45% increase in the past week but also suffered a notable loss of approximately 34.28% over the last month.

Looking at the broader timeframe, XDC cryptocurrency has shown substantial growth, with a 69.77% increase over the last three months and an impressive surge of 98.14% within the past six months. Moreover, in the current year, XDC’s price has demonstrated a remarkable recovery, rising by around 132.53%. This highlights the significant strides the cryptocurrency has taken on its path to recovery throughout 2023.

Based on technical indicators, XDC cryptocurrency is encountering challenges as it interacts with the lower trendline. The relative strength index (RSI) indicates that XDC crypto is currently consolidating at its present level. Additionally, the moving average convergence divergence (MACD) signals a downward trend in XDC’s price.

The RSI is situated at 50 and remains steady, indicating a neutral stance. Furthermore, the MACD line is currently overlapping with the signal line, awaiting any potential crossover. Therefore, investors involved in XDC cryptocurrency should exercise patience and monitor the daily chart for any significant directional changes.

Summary

The XDC price prediction suggests that XDC cryptocurrency has the potential to rebound from its current position and reach $0.093. To break free from its consolidation phase and achieve a $0.093 recovery level, XDC cryptocurrency must attract potential buyers. Moreover, in the current year, XDC’s price has demonstrated a remarkable recovery, rising by around 132.53%. Based on technical indicators, XDC cryptocurrency is encountering challenges as it interacts with the lower trendline.

Technical Levels

Support Levels: $0.05740774 and $0.05578573

Resistance Levels: $0.0600 and $0.06610762

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing