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ECash Price Analysis: What do Investors Need to do for XEC Crypto’s Breakout from the Range?

ECash Price Analysis: What do Investors Need to do for XEC Crypto’s Breakout from the Range?

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  • eCash price has been trading within a horizontal range during the daily chart.
  • The XEC script has dropped below the 20, 50, 100 and 200 day moving averages.
  • The XEC/BTC pair is at 0.000000002136 BTC with an intraday drop of 1.72%.

Since June 23, the price of eCash has remained constant in the horizontal range trading area. The token has been trying to break out of the consolidation phase, but bulls have repeatedly failed to hold gains at the consolidation phase level. XEC’s optimistic outlook suggests that they are focusing this time on saving the token’s exit from the horizon. However, the price of the token has remained constant between $0.000035 and $0.000050. The price of XEC is currently on a strong rise and is entering the top ranks of the consolidation period. In order for the mark to get above the cage area, the XEC bulls must maintain their position on the trend line.

eCash currently has an estimated price of $0.00004226, with a 3.42% decrease in market capitalization in the previous day. But during intraday trading, there were 67.40% less trades. This suggests that the bears are trying to rally in preparation for a drop in the price of the XEC cryptocurrency. The volume to market cap ratio is 0.03445.

On the daily price chart, the price of XEC is moving upwards towards the upper trend line of the consolidation phase. Bulls need to gather at the XEC to see the sign break out. However, the bears are able to suddenly reverse the upward momentum of XEC coin as the volume shows that the rate of accumulation is low. If XEC bulls want to avoid falling into a bear trap, they need to act quickly to buy.

What do the technical indicators suggest about XEC?

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

The strength of the XEC coin downturn is shown by the relative strength index. At 46, the relative power index is just above the neutral value. The consolidation phase of XEC coin can be seen on the MACD. The signal line is below the MACD line. XEC investors need to monitor the daily chart for possible direction changes.

Conclusion

Since June 23, the price of eCash has remained constant in the horizontal range trading area. The token has been trying to break out of the consolidation phase, but bulls have repeatedly failed to hold gains at the consolidation phase level. XEC’s optimistic outlook suggests that they are focusing this time on saving the token’s exit from the horizon. However, the price of the token has remained constant between $0.000035 and $0.000050. The price of XEC is currently on a strong rise and is entering the top ranks of the consolidation period. If XEC bulls want to avoid falling into a bear trap, 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. XEC investors need to monitor the daily chart for possible direction changes.

Technical levels

Support levels: $0.000040 and $0.000035

Resistance levels: $0.00004 and $0.000050

Disclaimer

The views and opinions expressed by the author or any people named in this article are for information only and do not constitute financial, investment or other advice. Investing or trading in crypto-assets involves the risk of financial losses.

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Source: https://www.thecoinrepublic.com/2022/09/17/ecash-price-analysis-what-do-investors-need-to-do-for-xec-cryptos-breakout-from-the-range/

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