ECash Price Analysis: What Should Investors Do Before the Out-of-Range XEC Crypto Breakout?

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  • The eCash price was trading within the horizontal range bound area on the daily chart.
  • XEC crypto has fallen below the 20, 50, 100 and 200 day daily moving average.
  • The XEC/BTC pair is standing at 0.000000002136 BTC with an intraday drop of 1.72%.

Since June 23, the price of eCash has been consistent in horizontal range-bound trading. The token has attempted to break through the consolidation phase, but bulls have repeatedly failed to hold gains at the consolidation phase level. XEC’s optimistic outlook suggests that this time they are focused on capturing the token’s exit from the horizontal zone. However, the price of the token has remained constant around $0.000035 to $0.000050. The price of XEC is currently going strong and rising towards the top of the consolidation period. For the token to move above the cage area, XEC bulls must maintain their position on the trendline.

The estimated price of eCash is currently $0.00004226, and the previous day there was a 3.42% drop in market cap. But during the intraday trading session, there were 67.40% fewer trades. This would indicate that bears are trying to pile up in preparation for the XEC cryptocurrency’s price drop. The ratio of volume to market capitalization is 0.03445.

On the daily price chart, the price of XEC moves up to the upper trendline of the consolidation phase. To see the breakout of the token, bulls must gather at XEC. However, bears have the ability to abruptly reverse the upward momentum of the XEC coin as the volume shows that the accumulation rate is low. If bulls in XEC want to avoid getting caught up in bearish traps, they need to act quickly to buy.

What do technical indicators suggest about XEC?

During the consolidation phase of the daily chart, the price of the XEC coin tries to keep it at the current level. Technical indicators highlight the downward momentum of the XEC coin.

The strength of the XEC coin’s decline is demonstrated by its relative strength index. At 46, the RSI is just above neutrality. The consolidation phase of the XEC coin can be seen on the MACD. The signal line is below the MACD line. Investors in XEC should monitor the daily chart for any changes in direction.

Conclusion

Since June 23, the price of eCash has been constant within the area of ​​horizontal range-bound trading. The token has attempted to break through the consolidation phase, but bulls have repeatedly failed to hold gains at the consolidation phase level. XEC’s optimistic outlook suggests that this time they are focused on capturing the token’s exit from the horizontal zone. However, the price of the token has remained constant around $0.000035 to $0.000050. The price of XEC is currently going strong and rising towards the top of the consolidation period. If bulls in XEC want to avoid getting caught up in bearish traps, they need to act quickly to buy. Technical indicators highlight the downward momentum of the XEC coin. The signal line is below the MACD line. Investors in XEC should monitor the daily chart for any changes in direction.

Technical levels

Support Levels: $0.000040 and $0.000035

Resistance Levels: $0.00004 and $0.000050

Disclaimer

The views and opinions of the author, or other persons mentioned in this article, are for informational ideas only and do not constitute financial, investment or other advice. Investing in or trading crypto assets carries a risk of financial loss.

Steve Anderson
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