XDC Price Warns 200D EMA Breakdown, 15% Downside Risk

Despite the recent short bullish spikes in the overall market, XDC Network shows a declining price trend with lower high formations in the daily chart. The downtrend forms a resistance trendline and reflects a lack of bullish spirit in the XDC price trend. 

The ongoing downfall takes support at the 200D EMA and warns of a breakdown if the buyers are not quick to react and push back the growing supply. 

Check out our XDC price prediction 2024-2030 for more information on the long-term price projections. 

Source- Tradingview

The declining trend in the XDC price forms a descending triangle pattern with the 200D EMA as the base level. With multiple supports at the dynamic average line and the multi-contact resistance trendline, the pattern has held the price within for months now. 

In the short-term trend, XDC Network takes a reversal from the overhead trendline to test the 200D EMA, which leads to a sideways stroll. The lack of demand delays the bullish bounce back and warns of a downfall if the buyers fail to absorb the growing supply.

Currently, the XDC price trades at $0.049, with the daily candle showcasing a Doji candle and reflecting an indecisive movement. Hence, due to the growing supply, buying the dip comes as a high-risk move for sideline traders.  

Technical Indicators:

RSI Indicator: The daily RSI trajectory for XDC is sideways below the halfway line, reflecting a lack of momentum.  

EMA: The declining 50D EMA warns of a death cross if the XDC price falls under the 200D EMA. 

Will The XDC Price Avoid This Crash?

XDC price is currently receiving support from the 200D EMA, acting as the baseline. With the growing supply in the slow market, the breakdown chances are substantial and warn of a crash shortly. 

In case the 200D EMA fails to support the XDC Network, the triangle breakdown rally can reach the $0.043 mark. Optimistically, a bullish reversal can lead to a price jump to $0.53.