XinFin (XDC) Gains Over 13% despite Bears Dominance

XinFin Network’s XDC has surged over 13% today despite bearishness in the overall crypto space. Moreover, the alt might overcome the psychological level at $0.10 by maintaining its current bullish strength.

The past few sessions have seen the crypto market underperforming as digital token’s global market plummeted beneath the $2.2T mark. However, not all crypto assets reflected the downward mode. XDC is among the altcoins defying the broad market narrative, gaining more than 135 within 24 hours as most assets suffer downbeats.

XDC Targets the Psychological level at $0.10

XinFin Network’s native coin has seen price upswings over the last few hours. XDC noted upticks despite bears tightening their grip on the overall crypto industry. For instance, Bitcoin suffered a sell-off, exploring the $46,000 mark at the moment.

XinFin is a blockchain firm designed to solve global financial challenges. Moreover, the company uses XDC as its in-house/governance token. The coin utilizes the XDPoS mechanism. For now, it supports smart contracts, boasts 2,000 transactions per sec.

XinFin plans to be a top scalable, commercial-grade, permission, and secure blockchain firm. Meanwhile, XDC seems to recovery from the early 2021 price crash. The past 90 days had the alternative token losing over 24% of its value.

However, XDC has seen excellent performance in recent weeks. The pair secured support around mid-July lows of $0.067 earlier in December. The footing can allow XDC to trigger a rally in the upcoming days or hours, toppling the $0.10 mark. Though the latest upswings, XDC remains around 50% away from its August peak at $0.20.

XDC Trades Beyond the 50-EMA

According to technical indicators, XDC is performing well, recovering its latest losses. If the alt maintains the current momentum, it will soar to higher levels soon.

The XDC/USD 24hr chart shows the crypto trading beyond its 50-day MA of $0.0837. The MACD crossed into the optimistic territory, confirming increased buying interest for the asset. Moreover, the 14-day RSI at 61 shows XDC’s higher possibilities of entering the overbought area soon.

Keeping its price reactions unchanged will see XDC surpassing the psychological level of $0.10 in the upcoming hours. Nevertheless, broad market backing is essential for the alt to challenge the 2nd massive resistance at $0.144.

Leave a Reply

Your email address will not be published. Required fields are marked *