Xyo crypto price is in search of a firm footing and is losing continuously on the 4-hour chart. The price failed to get the support of buyers for the fourth consecutive day and dropped near the weekly low.
Looking closely over the weekly performance, the price closed in red except for two initial sessions of the week. The price wiped the gains in the later sessions and dropped near the weekly low breaking below the 50-Day EMA.
Moreover, the Xyo crypto started the day with a positive bias in the morning session today to recover. However, it could not continue in the afternoon session and dropped again after facing selling pressure.
At the time of writing, the Xyo cryptocurrency was at $0.0055 with an intraday loss of 0.55%. Also, it has a market capitalization of nearly $74.73 Million after the intarday loss. The volume to market cap ratio is 1.25% suggesting very low volatility in the crypto.
Xyo Price Technical Analysis
After analyzing the daily chart it is clear that Xyo price experienced a sharp bullish momentum in late November 2023 and posted a high which has not been tested again till now. The price seems to be facing short term correction since December 2023.
The crypto is hovering in a 35% range and is not suggesting a direction. The breakout or breakdown may decide the next clear trend for the crypto. However, the long term outlook is positive at the moment which shows further upside potential in the crypto.
The technical indicators are signaling a positive sentiment with a mixed outlook. At press time, RSI was at 43.21 points while the 14-Day SMA line was at 47.61 points. Both the lines have withdrawn below the mean line suggesting a loss of momentum in the crypto.
Also, the MACD line and signal line have made a bearish crossover and are diverging, signaling the loss of momentum.
Xyo Price Prediction January 2024
The most optimistic view of analysts assumes the price may attain a high of $0.0063 by the end of January 2024. However, the pessimistic view of analysts hopes the price to drop to $0.0043 near the recent support.
Xyo Price Prediction 2024
The price forecast for the year 2024 highlights that the XYO token price could reach a high of $0.0095, suggesting a potential gain of over 73.14%. Moreover, the bearish outlook of the analysts hopes the price could reach $0.0076 by the year-end.
Xyo Price Prediction 2025
By the year 2025, the Xyo price may attain $0.0131 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $0.0103.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
Source: https://www.thecoinrepublic.com/2024/01/20/xyo-price-slides-below-50-day-ema-have-bulls-lost-control/