XDC Technical Analysis: Will Divergence Crash The Double Bottom?

The XDC Technical Analysis shows a bull run from the 50-day EMA sustaining the uptrend and highlights the possibility of a jump to the $0.036 mark. The XDC price action displays a rising trend in the daily chart, increasing the possibility of a double-bottom pattern. However, the bearish divergence in the RSI slope warns of a downtrend continuation. So, should you reconsider holding Xinfin? Key Points: The Xinfin Network price action shows a double-bottom opportunity. The price jump breaks the 100-day EMA. The intraday trading volume in Xinfin Network is $3.84 million. Source – TradingView XDC Technical Analysis As mentioned in our previous analysis, the XDC price action continues the attempt to create a double-bottom pattern. Over the last week, a bullish launch from the 50-day EMA drives the market value higher by 10% leading to three bullish candles. The bull run breaks above the 100-day EMA and the psychological mark of $0.030 with a spike in trading volume. However, the daily candle shows a bearish influence with a 1.28% drop in the market value, reflecting a potential retracement to the 100-day EMA. Therefore, questions about the bullish trend sustaining in the daily chart are rising, while some expect it as a retest of the broken trendline. If the buying pressure grows over the day, the Xinfin Network market price will rise to $0.036 and complete the bullish pattern. In such a case, sideline traders can take a breakout ...