The post XDC Price Warns 200D EMA Breakdown, 15% Downside Risk appeared first on Coinpedia Fintech News
Despite the recent short bullish spikes in the overall market, XDC Network shows a declining price trend with lower high formations in the daily chart. The downtrend forms a resistance trendline and reflects a lack of bullish spirit in the XDC price trend.
The ongoing downfall takes support at the 200D EMA and warns of a breakdown if the buyers are not quick to react and push back the growing supply.
Check out our XDC price prediction 2024-2030 for more information on the long-term price projections.
Source- Tradingview
The declining trend in the XDC price forms a descending triangle pattern with the 200D EMA as the base level. With multiple supports at the dynamic average line and the multi-contact resistance trendline, the pattern has held the price within for months now.
In the short-term trend, XDC Network takes a reversal from the overhead trendline to test the 200D EMA,
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