Amid the ongoing bullish recovery in the crypto market, the altcoin market, including XDC Network, has shown a significant uptrend over recent days. Let's explore the short-term market sentiments and possible price targets for the XDC Network (XDC) token.
Expanding Channel Pattern Formation
This altcoin has maintained its bullish price action by adding 38.71% to its valuation during the last week and 37.02% this year. With a market cap of $1.434 billion, XDC holds the 76th position globally. The MACD indicator shows a consistent rise in the green histogram, suggesting a positive outlook for the altcoin this week. The EMA 50/200-day indicates a positive rise, highlighting increased buying pressure in the cryptocurrency market.
Will XDC Reach $1.5 This Month?
If the bullish sentiment sustains, the XDC coin price may test its resistance level of $0.120. Maintaining the price above this level could push it toward the next resistance at $0.13850. Conversely, if a trend reversal occurs, the altcoin could test the support level at $0.08750. Failure to regain momentum could lead to testing a lower support level of $0.07225.
FAQs
XDC Network has exhibited significant growth recently, and its future price action will depend on market sentiment and the ability to sustain key support and resistance levels.
