Main digital cash venture eCash (XEC) has exploded +18% during the last 48-hours, as pleasure for On-Chain staking improve grows amongst the eCash military – however is it too late to purchase eCash?
The spectacular pump comes amid a flurry of exercise for eCash, which has seen on-chain buying and selling volumes surge +1,455% over the previous 24-hours in accordance with data from CMC.
As a distinguished Bitcoin fork venture; a reincarnation of Bitcoin Money ABC, XEC is making waves with the promise of being the primary Bitcoin-linked project to supply On-Chain staking rewards.
And this pleasure is at a time of heightened curiosity in Bitcoin and spinoff initiatives akin to Stacks (STX) which has additionally seen an explosive +2.15% transfer over the previous 24-hours, and the Bitcoin BSC presale which exploded past $3m earlier today.
XEC Worth Evaluation: Is it Too Late to Purchase eCash Amid Worth Pump?
With value motion pushing up, eCash is at present buying and selling at a market price of $0.00002651 (representing a 24-hour change of +4.74%).
This comes following the sensational +18% transfer, which was triggered by a big inflow of buying and selling quantity stemming from elevated promotion of the upcoming on-chain staking rewards on Crypto Twitter.
XEC’s 200DMA put the brakes on the upside transfer on the $0.0000275 value stage – which now types a key stage of native resistance to crack.
Nonetheless, with value motion smashing by a 65-day lengthy ceiling of resistance from the 20DMA to ascertain agency under-footing – technical construction seems to be strengthening.
With value now primed for a run on the 200DMA, XEC’s RSI indicator has heated-up considerably, shifting to an over-bought sign at 61.44.
Such a excessive studying on the RSI represents bearish divergence, and will recommend {that a} additional retracement or a chronic interval of consolidation is on the playing cards.
But, the MACD contrasts this flipping to minor bullish divergence at 0.000000046.
General, with sturdy fundamentals stemming from the upcoming roadmap, the surge in XEC quantity has seen eCash technical construction strengthen – poised for a run on the 200DMA – however awaiting an RSI cool-down.
This leaves XEC with an upside goal at $0.000033 (representing a possible +26.38%)
Whereas draw back threat may see XEC tumble again to the 20DMA down at $0.0000235 (a probable -10.27%).
eCash due to this fact carries a threat: reward ratio of two.57 – a superb entry, and definitely not too late to purchase XEC.
Nonetheless, whereas bag-holders speculate, on-chain merchants are already scouring the marketplace for alpha forward of the subsequent large pump utilizing main professional AI buying and selling insights software Launchpad XYZ.
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.Disclaimer: Crypto is a high-risk asset class. This text is offered for informational functions and doesn’t represent funding recommendation. You would lose your entire capital.