XDC Technical Analysis: With a Bullish Sentiment, Watch Out for Retracement at $0.864

XINFIN (XDC) is a smart contract blockchain network that has helped in breakthrough technology for the financial industry. The capacity of their transfer value across borders is high and even the cost for it is high. XDC technology is compatible with EVM machines, and it is also focused on building and monetizing global trade. Let us look at the technical analysis of the same.

Past Performance

On June 25, 2021, XDC started trading at $0.06. As of July 1, 2021, the closing price of XDC was $0.09. Thus, in the past week, the XDC price has hardly been volatile. In the last 24 hours, XDC has traded between $0.080 – $0.090.

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Day Ahead And Tomorrow

Currently, XDC is trading at $0.086. The price has increased from the opening price of $0.080. Thus, the market looks bullish.

The MACD and signal lines are in the positive zone. However, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish, and we can expect a price pullback.

However, both the lines are close to the zero lines and may change signs soon. If buying pressure takes over the selling pressure, we might witness a clear breakout on the upside for XDC.

The RSI indicator is at 46.83%. It has fallen from the 55% mark. Thus, it indicates that the selling pressure is high in the market. Hence, we can expect the price to fall for some time.

The price has tested and fallen below the Fibonacci pivot point of $0.901. As some of the oscillators have shown bearish signals, we can expect the price to fall and test the first Fibonacci pivot support level of $0.864 soon.

XDC Technical Analysis

The price has tested and is currently trading at a 38.2% FIB retracement level of $0.864. If the price falls below the 38.2% FIB extension level in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

However, if the price tests and rises above the 38.2% FIB retracement level of $0.864. It can test the FIB retracement level of $0.90. Traders can take a long position accordingly.