is XEC Likely to Rise Further?

According to eCash (XEC) as reported on Coinmarketcap, PayButton, a free and open-source solution for accepting crypto on the web, has announced that it now supports eCash #XEC. PayButton allows anyone to add a button (buy/donation/tip) to their website or blog using a simple code snippet, making it easy to accept crypto payments online. PayButton also provides a new PayButton-Server that enables businesses to manage their buttons and view their eCash transactions just like on traditional platforms.

PayButton was funded by GNC, a global network of eCash enthusiasts and supporters, to develop PayButton for eCash last year. GNC aims to promote eCash adoption and innovation by providing grants and resources to projects that use eCash. PayButton is one of the many projects that GNC has supported to make eCash more accessible and convenient for everyone.

eCash lost 5.99% in market value while trading volume surged by 243.66% in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $467,122,170 and its trading volume is $96,420,595. There are 19,504,292,173,093 XEC in circulation.

Technical Analysis of XEC (XEC) on 1-D Time Frame

eCash price is falling and faced strong resistance at $0.000040000. The chart shows the lower highs and lows. eCash price is now at $0.000023950 and is facing resistance from EMAs.

eCash price could ascend further if more buying volume adds up. If the buying volume spikes, the price might conquer EMAs  and surpass trendline by making higher highs and lows. Then, the next probable resistance levels could be $0.000025000 and $0.000030000, based on the previous highs and lows.

The next support levels could be $0.000020000 and $0.000015000, respectively.

At the time of publishing, the eCash price (CRYPTO: XEC) is trading below the 50, and 100-day EMAs (exponential moving averages), and is rejecting the eCash price trend. 

The MACD line 0.000000049 and the signal line 0.000000408 are below the zero line. Both lines crossed each other multiple times but the histogram width is lean in the MACD, highlighting the of lack of momentum in the XEC crypto market. The current value of the RSI is 48.71 points and the 14-day SMA is below the median line at 44.94 points indicating neutral to bearish sentiment. The technical indicators suggest neutrality.

Conclusion

The eCash price prediction suggests investors have a neutral to bearish outlook in the daily time frame. Moreover, the daily chart shows that the XEC price trend is bearish, as the technical indicators suggest. The RSI, EMAs, and the MACD indicate that the XEC price may either stay in a range or continue to decline.

Technical Levels:

• Support Levels: $0.000020000 and $0.000015000.
• Resistance Levels: $0.000025000 and $0.000030000.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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