Will eCash Price Break the 6-Month High?

XEC price prediction suggests a rise in the long run but in December, the price may continue to spend time in consolidation. 

eCash price is sustaining above the 50-day and the 200-day EMA shows initial signs of a bullish trend reversal. The confirmation of the trend reversal will come when buyers can break the $0.00003378 hurdle. 

After a three-month-long consolidation, XEC price showed some positive moves in November. It slowly recovered and attempted to break the August month high. However, bulls lost momentum and XEC crypto price faced rejection. Later, the price reversed down and retraced back to the 50-day EMA. 

At present, buyers are trying their best to rebound the price from the EMA. If they succeed, then one may see another attempt to break the August 2023 high. 

In the previous breakout attempt, the trading volume did not rise and stayed average. It shows that the big players did not participate in the rally. Due to that, the attempt failed and the price reverted downward. 

Currently, the XEC price is trading at $0.00002914 with a one-day increase of 1.53%.

XEC Price Analysis: Will the Bulls Dominate?

XEC price prediction shows this crypto might continue its recovery and may display a sudden rise. eCash crypto is in the recovery phase so buyers are active near the support levels. 

The next phase of recovery will trigger when buyers succeed in taking control over the supply zone. Till then, the price is expected to consolidate near the EMAs. 

However, if the market sentiment turns negative and XEC price slips below the 200-day EMA, then the bears might take charge and drag the price down to the yearly low.

eCash Price Needs Big Investors’ Participation

eCash price is inside the bulls’ grip so the probability of bouncing back from the EMA support remains high. The volatility in the crypto is quite low so speculative are less. 

However, XEC needs big investors and whale participation to break out of the previous swing high. 

The overall cryptocurrency market sentiment is bullish and it positively impacts the price of XEC. If crypto leaders like BTC and ETH continue to perform well, then it might indirectly impact XEC and sustainably increase the possibility of the breakout.

Conclusion

XEC price prediction is bullish for the long term and suggests that the recovery is likely to continue. The chart structure shows the eCash price is in bulls’ grip and more upward momentum is possible. 

The analysis suggests that till the price sustains above the 200-day EMA, the probability of the breakout remains high.

Technical Levels

• Resistance levels: $0.00003378 and $0.00003982
• Support levels: $0.00002500 and $0.00002157

Disclaimer

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

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.