XDC Technical Analysis: Reversal Rally Gains Speed As It Eyes $0.050

The XDC price action forms a rounding bottom pattern with a neckline at $0.0365 as it reverses. Will this reversal give a bullish breakout? Key Technical Points: The Xinfin Network (XDC) price has increased by almost 55% in the last six weeks. The bullish reversal forms a rounding bottom pattern in the daily chart with a neckline at $0.036. With a market cap of $444 million, the intraday trading volume of Xinfin Network has increased by 39% over the last 24 hours to reach $6.22 million. Past Performance of XDC The Xinfin Network (XDC) price trend takes a bullish reversal after hitting the ultimate bottom level at $0.022, resulting in a price jump about the 100-day SMA. The price action forms a rounding bottom pattern in the daily chart with a neckline at $0.0365, accounting for 55% inflation over the last six weeks. Furthermore, the increase in bullish demand is evident by the spike in intraday trading volume supporting the recent streak of seven bullish candles. Source – Tradingview XDC Technical Analysis The XDC technical chart shows a bullish rally from the 50-day SMA to $0.0365 accounting for a price jump of 28% over the last week. Hence the possibility of the rounding bottom breakout increases significantly. As the Xinfin Network’s market price sustains above the 100-day SMA, the possibility of a bull run to the 200-day SMA increases. The daily-RSI slope displays an unusual spike in the underlying bullishness as it crosse...