XDC Price Prediction: Will XDC Soar Despite Crypto Market Correction?
Key Insights:
- XDC bounced 5% from $0.0700, signaling strong buyer defense at a key support level.
- Trading volume surged 21%, reaching $36.92M, indicating renewed market interest.
- Weekly RSI holds at 51.50, showing strength above neutral and potential for upward momentum.
XDC Network (XDC) has shown notable price movement recently, capturing attention amid broader market fluctuations. While many digital assets face corrections, XDC has rebounded from key support levels.
Traders and investors are now closely watching if this recovery could sustain a rally. With growing volume and narrowing technical patterns, the question remains: can XDC outperform while other cryptocurrencies pull back?
XDC Price Shows Strength After Sharp Sell-Off
In the past 24 hours, XDC/USD experienced a sharp drop, falling to a low near $0.07000 before recovering. This decline followed a period of sideways trading on the 5-minute chart, where prices moved between $0.07075 and $0.07150.
A breakdown occurred at approximately 00:30 UTC, marked by strong red candlesticks and a sharp increase in volume.
Over 600,000 units were traded during the fall, suggesting large-scale selling activity. Analysts note that this volume surge signals possible stop-loss triggers or larger players exiting the market.
After the drop, the price found temporary support near $0.06975. A slight rebound followed, though the overall short-term bias remained bearish then.
However, XDC’s price climbed to $0.07372, showing a near 5% bounce from its intraday low. The quick recovery indicated buying activity at lower levels.
This price behavior suggested that buyers actively defended the $0.07000 level. Market participants are now observing this zone as a key support base.
XDC Price Hint at Potential Upside
On the weekly chart, XDC has stabilized after falling from its 2024 highs. The price peaked near $0.15 in early 2024, but then corrected and settled into a range between $0.065 and $0.075.
This ongoing consolidation follows a rally in late 2023, when the token broke out from long-term accumulation near $0.045.
MACD readings on the weekly chart show a bearish crossover, but the histogram is narrowing. This development signals that the downtrend may be slowing.
A bullish crossover in the coming weeks could confirm a trend reversal. The MACD line is currently at 0.0031 while the signal line is at 0.0058.
The RSI on the weekly chart stands at 51.50. It has stayed above the neutral 50 level, which many traders use to gauge trend strength.
A rising RSI trend from this zone often precedes upward moves. The RSI fell from overbought levels earlier in 2024 and now appears to be forming a stable base.
The price structure supports this view. Weekly candles show higher lows, with smaller body sizes and fewer long upper wicks.
This setup often indicates reduced selling pressure and more substantial buyer accumulation. More upside could follow if the price can move above the $0.080 level with volume support.
XDC Price Showing Resistance Levels, but Volume Builds Confidence
Despite the recent rebound, XDC faces short-term resistance between $0.0745 and $0.0750. This level has capped gains in previous sessions.
A decisive breakout above it, supported by higher trading volume, could lead the price toward $0.080. This resistance range aligns with consolidation zones seen on higher timeframes.
XDC’s 24-hour trading volume rose 21.05% to $36.92 Million. The volume to market cap ratio, at 3.19%, indicates active trading within the mid-cap token realm, with a market cap of $1.15 Billion. Approximately 41% of XDC tokens exist in an undistributed state since only 15.7 billion coins are circulated among the total 37.99 billion coin supply.
Future token management strategies will determine whether increased supply pressure will develop after supply distribution concludes.
The $0.0700 support level has experienced multiple validation attempts and remains intact. A break of current price levels will likely trigger a price decline to $0.0680, potentially extending to $0.0650.
XDC investors closely observe the token’s price patterns to know if XDC will maintain its current upward trend by surpassing resistance levels as the crypto market stabilizes.
