After gaining over 6%, XDC is trading at $0.07578.
Its daily trading volume has climbed to $39.14 million.
The crypto market’s short-lived rebound faded, pulling the total market cap down to $2.76 trillion. Most leading assets slid back to earlier lows. Meanwhile, XDC Network (XDC) defied the downturn, posting a solid surge of over 6.92% and emerging as one of the top gainers.
XDC opened the day trading at a low of $0.07025. Later, on the heels of the bulls, the asset climbed to a high of $0.07575. At the time of writing, XDC trades at $0.07578, with its daily trading volume having reached $39.14 million.
The asset has gained over 13.75% in the last seven days. XDC began the week trading in the $0.06652 range and managed to climb to the current trading level without falling below the $0.066 mark.
Will XDC Hold Its Gains or Face a Reversal?
XDC’s four-hour trading pattern looks bullish with the next crucial resistance at $0.07685 range. Extended gains could trigger the asset to sustain the bullish wave, and the subsequent resistances might be between $0.07722 and $0.079.
On the downside, a slight bearish pressure can pose risks, and might trigger a pullback toward $0.07417. A potent breakdown from this range will ignite a steep downside correction of XDC price to its former low around the $0.072 range.
The asset’s Moving Average Convergence Divergence (MACD) line is staying above the signal line. This crossover indicates bullish momentum and the price of XDC may continue to rise.
XDC chart (Source: TradingView)
Additionally, the Chaikin Money Flow (CMF) indicator settled at 0.28, suggesting a positive money flow into the asset. Meanwhile, the asset’s daily trading volume has spiked by over 3.55%.
XDC’s Bull Bear Power (BBP) reading of 0.00669 signals a mild bullish sentiment in the market. The daily relative strength index (RSI) found at 74.30 infers the asset’s overbought condition.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. The NewsCrypto team encourages all to do their own research before investing.
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