XDC Network (XDC) Technical Analysis: XDC Price in a Decisive Phase

Key Takeaways

• The XDC price closed the previous day’s trade at INR 4.12 with a market capitalization of INR 66.39 Cr and a circulating supply of 1231 Cr XDC 
• The asset is swinging within a decisive phase carrying equal possibilities of a 10% jump or a 10% plunge

XDC Network(XDC) Technical – Analysis for the Month

The price since the beginning of the month is slashing towards the south. Forming multiple lower highs and lows, the price is heading towards the apex of the consolidation. A breakout from these ranges may ignite a rally towards INR 5. Or else if the bears restrict the price then the asset may hover below INR 4 by the end of the month.

XDC Network(XDC) Technical Analysis at a Glance

The XDC Network after smashing double-digit figures has lost more than 70% of its value. And hence appears to have deeply stuck up in a bearish well that has intensified since the beginning of 2022. Yet the price is expected to consolidate within the narrow ranges until it finds the right momentum to slice through the accumulation. 

Additional Read: What is XDC Network?

Technical Indicators & Pivot Levels

Technical Indicators

Pivot Levels

Oscillators

The XDC Network forecasts a huge possibility of an interim surge fueled by the growing strength of the bulls. However, after a significant upswing, the XDC prices may slash heavily as the long-term forecast is extremely bearish. Also, the asset is less volatile in both the time frames, and hence no drastic change may be expected.

XDC/INR Technical-Analysis for Short-Term

Source: Tradingview

• The XDC price in the short-term is swinging within a symmetrical triangle carrying both the possibilities of a breakout or a breakdown
• The price may rise high to hit the upper resistance and quickly drop to the lower support and may encounter a crucial decisive phase
• If the price breakout, it may spike towards the levels around INR 4.5 to INR 5, still lower than the monthly highs
• Else a price drain may drag the price to the lower support at INR 3.81 which appears largely unlikely at the moment

XDC/INR Technical Analysis for Long-Term

Source: Tradingview

• The XDC price has been trending within a huge descending triangle for a pretty long time. 
• XDC price failed each time it attempted to slice through the consolidation and formed multiple lower lows and highs
• The price is expected to slice through the lower pivotal support if in case the asset fails to slice through the upper consolidation in the next couple of hours
• However, the asset may retest the support levels again and if held, may nullify the bearish trend or else dive deep down discovering new support levels

Additional Read: XDC Price Prediction.

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