XDC Network Price Eyes To Hit $0.2 With A Breakout Rally?
Amid the ongoing bullish recovery in the cryptocurrency market, the altcoin market has experienced a significant upward trend over the past few days. Additionally, mid-cap altcoins such as XDC Network surged around 40% in seven days, indicating increased bullish sentiment.
Will XDC Network price maintain the bullish price trend this month and reach the $0.20 mark? In this article, we reveal the short-term market sentiment and possible price targets for the XDC Network (XDC) crypto token.
XDC cryptocurrency forms an expanding channel pattern!
The altcoin has maintained its bullish price action, with its valuation rising by 38.71% last week. Moreover, it has increased by 37.02% this year. Additionally, it ranks 76th in the global cryptocurrency market with a market capitalization of $1.434 billion.
Moving Average Convergence Divergence (MACD) records a continued rise in the green histogram, with its average showing bullish convergence on the daily time frame. This points to a positive outlook for altcoins this week.
The EMA 50/200 days shows a positive increase on the XDC Network price chart, highlighting the increasing buying pressure on the cryptocurrency market.
Will XDC price reach $1.5 this month?
If the bullish sentiment persists, XDC token price will be ready to test its $0.120 resistance level. Sustaining the price above this level could push the price towards this month’s upper resistance at $0.13850.
Conversely, if a trend reversal occurs, the altcoin may retest the $0.08750 support. Furthermore, if the bulls fail to regain momentum at this point, it may lead to a retest of the lower support at $0.07225.
Want to know the long-term price forecast for this Layer-1 project? read our XDC network price prediction!
FAQ
XDC’s return in the first 7 days exceeded 50%, making it the focus of the cryptocurrency space. That makes it a potential purchase this year.
It is highly unlikely that this altcoin will achieve this price target.
As of this writing, the price of one XDC network token is $0.09986.
