TL;DR Breakdown
- XEC price analysis appears to be bullish.
- The strongest resistance is present at $0.00008608.
- The strongest support is present at $0.00007229.
XEC price analysis appears to be following an upwards movement, with strong possibilities of further bullish activity. However, the price has followed a significantly uncertain trend in the last 24 hours. On March 3, 2022, the price went from $0.00007625 to a low value of $0.0000525. However, the XEC cryptocurrency has obtained positive momentum despite this devaluation and will indeed compete in the big leagues soon.
The current trading price of XEC is $0.00007525; XEC has been down 2.45% in the last 24 hours with a trading volume of $15,512,007 and a live market cap of $1,429,688,272. XEC currently ranks #67 on the cryptocurrency ranking charts.
XEC/USD 4-hour price analysis: Latest updates
XEC price analysis appears to follow a somewhat uncertain trend as the market remains bearish. However, the market volatility seems to decrease, making the cryptocurrency less prone to volatile change. The upper limit of the Bollinger’s band is at $0.00007993, which serves as the strongest resistance for XEC. Conversely, the lower limit of the Bollinger’s band appears to be at $0.00007229, serving as the strongest support for XEC.
The XEC/USD price appears to cross under the Moving Average curve signifying a bearish market. However, the price seems to follow an upward movement towards the resistance. This movement may prove to be a silver lining for the cryptocurrency as it illustrates strong positive momentum and turning point for XEC.
The Relative Strength Index (RSI) is present at 49, making the cryptocurrency stable, falling in the central neutral region. The RSI follows a slight upward movement signifying dominant selling activity and an increasing market. However, if this momentum increases, it could lead to inflation.
XEC price analysis for 1-day: Market squeezes
XEC price analysis illustrates a closing market with further tightening characteristics. The market appears to squeeze, making the cryptocurrency value less prone to undergo variable change. The upper limit of the Bollinger’s band is present at $0.00008608, serving as the strongest resistance for XEC. The lower limit of the Bollinger’s band is present at $0.00006658, serving the strongest support for XEC.
The XEC/USD price appears to cross over the Moving Average curve signifying a bearish move. XEC has gained considerable momentum in the past few days, marking its exit from the undervalued section into the neutral area. The price appears to follow a downward movement indicating a declining market. However, the bulls will not let go of the market this easily.
The Relative Strength Index (RSI) is 40, making the cryptocurrency stable, falling in the lower-neutral region. The RSI follows a linear movement showing consistent dynamics and potential to conserve the bullish direction. The RSI score shows the potential to move upwards soon. The equivalence of the buying and selling activity causes the RSI to remain constant.
XEC Price Analysis Conclusion
We can deduce that the XEC price analysis for today has revealed consistent characteristics for the cryptocurrency as the digital currency follows an indecisive bullish movement. However, the market appears to show positive momentum, and the bulls might soon engulf the market entirely.
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Source: https://www.cryptopolitan.com/xec-price-analysis-2022-03-03/