XDC Technical Analysis: Double Bottom Excites XDC Holders

The XDC Technical Analysis displays a double bottom pattern forming in the daily chart with the neckline at the $0.036 mark. The XDC price action shows a bullish reversal from the $0.025 mark creating the double bottom pattern in the daily chart. Currently, the bullish reversal accounts for a price jump of 30% in the last three weeks, increasing the possibility of a bullish breakout. So, should you consider buying XDC at lower levels? Key Points: The XDC price action shows the bullish breakout of the $0.031 level. The market price exceeds the 100-day EMA. The intraday trading volume in XDC is $3.02 million. Source – TradingView XDC Technical Analysis The XDC price action displays a bullish reversal from $0.025 after the sellers failed to knock down the psychological mark. The recovery rally accounts for a price of 30% in the last three weeks and breaks the 100-day EMA. Furthermore, the recovery rally increases the bullish influence over the 50 and 100-day EMA, teasing a bullish crossover. Currently, the price action displays a rounding bottom breakout as it exceeds the $0.30 mark reflecting a surge in buying pressure. In addition, the increase in trading volume supports the breakout candle increasing the possibility of a bull run to $0.035. Therefore, sideline traders can shortly expect a bullish entry opportunity with a breakout of $0.035. A bullish breakout from the $0.0315 resistance gives an additional confirmation to comp...