XDC, the native cryptocurrency of the Singapore-based XinFin Network, defied the overall market decline by surging 35.54% in just one day, reaching an impressive price of $0.86.
The token’s remarkable rally lasted for five consecutive days, pushing it to its highest level since January 2022. XDC’s price had surged more than 300% from its monthly low of $0.03, despite a 1.88% decline in the global cryptocurrency market.
In contrast, major cryptocurrencies like Bitcoin and Ethereum experienced drops of 1.68% and 1.27%, respectively.
Top Gainers List (Source: CoinMarketCap)
In the last 24 hours, the price of XDC has skyrocketed by over 35.54%, reaching the $0.8 mark. This surge has made XDC the top gainer in the crypto market, according to data from CoinMarketCap.
As of the current moment, XDC Network is trading at $0.86, and its 24-hour trading volume has surpassed $27.9 million, increasing by 37%. The daily chart for XDC shows a robust bullish trend, with the token surging above the critical resistance level at $0.065.
XDC Price Chart (Source: Tradingview)
XDC Price Shows Bullish Signs, Targets Resistance Levels
The XDC price has demonstrated a significant uptrend, surpassing the 50-day exponential moving average (EMA). Additionally, the Relative Strength Index (RSI) has entered overbought territory at 8.46, indicating strong momentum.
Based on the data, if the bullish trend continues, XDC may reach the resistance level of $0.09, with potential to break through $0.12 and even surpass $0.5. However, if the bearish trend takes over, the price could fall to the range of $0.5 to $0.4.
XinFin Network, a hybrid blockchain platform, aims to become a prominent alternative to established chains like Ethereum, Cardano, and Hedera Hashgraph in the blockchain industry. The platform offers support for smart contracts, decentralized applications (DApps), and seamless cross-border transactions.
Recently, the network gained attention with its participation in a forthcoming event in Toronto, Canada, showcasing its growing influence and presence in the blockchain industry.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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