XDC — Current Status
XDC Network (XDC) currently trades at a low of 0.032, representing a -0.6% dip in 24 hours, indicating a bearish outlook for the token. With its next support level at 0.03, a further cryptocurrency selloff can be expected.
The Simple Moving Average (SMA) Short Term shows a strong downtrend, indicating that the bearish momentum continues. The SMA Medium Term is also on a downward trajectory, and the SMA Long Term is currently on a solid uptrend.
The Relative Strength Index (RSI) is presently oversold, while the Moving Average Convergence Divergence (MACD) and the Momentum (MOM) Indicators are both bearish.
The oscillator is also reflecting a bearish momentum. The Average Directional Index (ADX) is neutral.
XDC — Outlook
Taking into account the technical indicators, it appears that the bearish sentiment will continue, and XDC will continue to go down to its next support level of 0.03. However, the SMA Long Term is currently on a solid uptrend, which could indicate a possible rebound in the future.
About XDC Network (XDC)
XDC Network (XDC) is a blockchain-based utility and multi-asset layer for tokenized assets powered by Ethereum. It has the two main components of XDCE Token and eXchange Depository Network (XDN). The XDCE Token is a utility token that allows users to transact on the network and access the features of the XDC blockchain. On the other hand, the XDN is an ethereum-based token exchange platform. It allows token exchange, network access, and wallet and vault services across multiple assets and cryptocurrencies.
In short, XDC Network (XDC) is trading at 0.032, representing a -0.6% loss in 24 hours, and is likely to approach its next support level at 0.03. As per the technical indicators, the token has started to show bearish sentiment and is expected to continue its downtrend. However, the SMA Long Term is on a solid uptrend which could lead to a possible rebound in the future.