- The volatile market of the XEC is making it difficult of investors to decide
- The current price of XEC is approximately $0.0000362 with a total decrease of 6.47% during the intraday trading session
- The pair of XEC/BTC is around 0.00000000152 BTC with a dip of 3.58% in the last 24 Hours
The battle of market manipulation sets bears against bears. Despite the bulls’ efforts to give it an inclining momentum, the bearish trend is driving the eCash down once again. For buyers without much expertise, this is very confusing. Both buyers and bears may experience some deadly outcomes as a result of eCash’s volatile price. Both buyers and sellers are pushing the XEC market very aggressively in order to achieve their goals.
eCash is presently valued at $0.0000362 and has dropped by almost 6.47% during the daily trading period. The XEC/BTC pair is presently trading at about 0.00000000152 BTC and dropped by about 1.39%. The primary support level of approximately $0.00003206 could be approached by the Bears. If the bulls lost their grip on the XEC, the bears will have no trouble pushing the price of XEC down to its secondary support level of $0.00002756. If the bulls take a grip over the XEC the coin’s price may reach the primary resistance of $0.00002812. If the bullish strategies are successful, the price may also hit the secondary resistance level of$0.00004205.
There has been a decrease in volume of almost 63.56%. The constant decrease in the volume of the XEC indicates that the short-selling pressure is increasing. XEC is lagging behind by the 100,200 Daily moving average. And is trading above the 20 and 50 Days of Exponential Moving Averages
The technical indicators of the eCash
The technical indicator shows the following: The MACD and MACD signal have intersected indicating the positive cross. The Relative Strength Index is in the overbought territory approaching neutrality. The RSI of the coin is soo close to neutrality the sellers have pushed themselves to neutralize The RSI. The current value of RSI is 54.09 which is below the average RSI which is 52.93. This indicates that the sellers may enter the trade
Conclusion
The XEC market trend is bullish but the bears are trying to enter the trade of the eCash the coin is following a downward trend. The buyers have also exerted a lot of pressure on the coin. The volatile market of eCash is making it difficult for investors to trade the current price of XEC is $0.0000362 with a drop of 6.47% during the intraday trading session.
Technical Levels-
Resistance level- $0.0000281 and $0.00004205
Support level-$0.00003206and $0.00002756
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 assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/22/ecash-price-analysis-the-uncertainty-of-the-coin-is-making-it-difficult/