XDC Network Needs More Boost

Although the XDC token network stands as the second most profitable at the moment, it appears the market is under significant pressure. Price action in this market can still be seen retreating below critical levels.

XDC Statistics

Current Price: $0.06057

Market Capitalization: $1.07B

Circulating Supply: 17.75B

Total Supply: 38.92B

CoinMarketCap Rank: 69

Key Price Levels

Resistance: $0.06500, $0.07000, $0.07500

Support: $0.06000, $0.05500, $0.05000

XDC Network Upside Bounce Looks Weak

As noted earlier, the XDC/USDT market remains the second-best-performing coin at the time of writing. However, the recent gains appear moderate and remain below key technical levels. This keeps price action in bearish territory and susceptible to continued downward retracement.

Although the last price candle appears green with a slightly contracted body, the token still trades below the 9-day Exponential Moving Average (EMA) curve. Additionally, the applied Stochastic Relative Strength Index (SRSI) indicator lines are descending from the overbought zone, suggesting waning bullish momentum.

XDC Market Faces Strong Constraints

Price action on the XDC Network’s 4-hour chart shows an upward movement, pushing the token above the 9-day EMA curve. Nevertheless, the ongoing session suggests strong resistance that may impede bullish sentiment. The last price candle appears compressed downward but maintains its base above the 9-day EMA line.

Meanwhile, the SRSI indicator lines stay projected upward. However, it is worth noting that the lead line has shown a deflection, reflecting subtle struggles in the ongoing session. Should the market sustain its position above the 9-day EMA, price action may push toward the $0.06500 mark.

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