XDC Technical Analysis: A Bullish Trend with Increase of 6%

XINFIN (XDC) is a smart contract blockchain network that has helped in breakthrough technology for the financial industry. The capacity of their transfer value across borders is high, and even the cost for it is high. XDC technology is compatible with AVM machines, and also, it is focused on building and monetizing global trade. Let us look at the technical analysis of XDC.

Price Analysis

On July 03, 2021, XDC started trading at $0.011. As of July 09, 2021, the closing price of XDC was $0.096. Thus, in the past week, the XDC price has hardly been volatile. In the last 24 hours, XDC has traded between $0.086 – $0.010.

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Day Ahead And Tomorrow

At the time of writing this, XDC is trading at $0.095. The price has increased by 6% approximately from the opening price of $0.086. Thus, indicating a bullish market.

As per the daily chart, the MACD and signal lines are in the positive zone. However, a bearish crossover by the MACD line over the signal line can be seen. Thus, we can expect a price pull back on a daily level.

Currently, the RSI indicator is at 53.83%. The daily RSI is forming a bearish divergence. Thus, it indicates that the selling pressure is high in the market. Hence, we can expect the RSI to fall and take support at the 43% mark.

Thus, RSI is also indicating a bearish outlook for the day. We will expect the price to fall and take support at the $0.085 level. If it sustains above this level, we can see an up move in the coming days.

XDC Technical Analysis

The price has tested and fallen below the Fibonacci pivot point of $0.12. As the majority of the oscillators have shown bearish signals, we can expect the price to fall and test the first Fibonacci pivot support level of $0.085 soon.

However, if the price breaks the FIB resistance level of $0.12. It will be ready to make new highs. Traders can take a long position accordingly.