Lokesh Gupta
06-04-2024
#eCash price recently displayed a positive trend after enduring a week of bearish influence.
Bulls successfully breached a major resistance level at $0.00007500 today after facing multiple rejections.
The conclusion of the last month of Q1 saw $XEC price surge by 84.65%, rising from $0.00003623 to $0.00006777.
Despite achieving a new monthly high, momentum dwindled, resulting in a period of narrow-range trading, indicating weak price action.
MACD shows a consistent rise in the green histogram, indicating heightened bullish momentum in the crypto market.
Additionally, the moving averages exhibit a bullish convergence, suggesting forthcoming positive price action for the altcoin.
If $XEC manages to close above the $0.00007500 level, it may potentially target $0.00011000 levels.
According to Coingabbar's analysis, Conversely, if bears dominate over bulls, the price might lose momentum and test the support level of $0.00006000.
KEY LEVELS :
RESISTANCE LEVEL : $0.00011000-$0.00017000
SUPPORT LEVEL : $0.00004500-$0.00002500
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgement, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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