Is XDC Turning Bullish?
Preface:
Between July 12th and August 3rd, 2023, XDC made 259% upside. This remarkable growth was achieved in bear market conditions. The fact that XDC achieved such a price increase quickly led me to believe that XDC will outperform most altcoins in the bull market. Alas, XDC did not meet my expectations.
XDC Relative to TOTAL 3:
A comparison of the TOTAL 3 Chart and XDC’s Chart between July 13th, 2023, and March 13th, 2024, shows that XDC underperformed relative to the altcoin sector.
In the period I mentioned above, the TOTAL 3 chart made a 125% increase. XDC made a 77.4% increase.
Conclusion: from an investor's point of view and, in hindsight, XDC did not prove to be a good investment.
XDC’s Future Prospects:
Regardless, past performance is not necessarily indicative of future performance. XDC is a fundamentally sound project, and I am sure it will make up for lost progress in the future.
From a trader’s perspective, XDC presents an opportunity because liquidity is to the upside.
XDC’s price is above the weekly PoC, and if it can get above the resistance at 0.588, which is also a high-volume node, an increase to the 10-cent level is likely.
Trade Opportunities:
Currently, I don’t have a setup for XDC. However, a successful retest of the PoC at 0.0522 could provide a favorable entry. A break above 0.0588 and a retest could also be a long entry. The target in both cases is 10 cents.
I am reluctant to set targets above 10 cents until XDC proves bullish.
NFA
What do you think?
Please share in the comments
Between July 12th and August 3rd, 2023, XDC made 259% upside. This remarkable growth was achieved in bear market conditions. The fact that XDC achieved such a price increase quickly led me to believe that XDC will outperform most altcoins in the bull market. Alas, XDC did not meet my expectations.
XDC Relative to TOTAL 3:
A comparison of the TOTAL 3 Chart and XDC’s Chart between July 13th, 2023, and March 13th, 2024, shows that XDC underperformed relative to the altcoin sector.
In the period I mentioned above, the TOTAL 3 chart made a 125% increase. XDC made a 77.4% increase.
Conclusion: from an investor's point of view and, in hindsight, XDC did not prove to be a good investment.
XDC’s Future Prospects:
Regardless, past performance is not necessarily indicative of future performance. XDC is a fundamentally sound project, and I am sure it will make up for lost progress in the future.
From a trader’s perspective, XDC presents an opportunity because liquidity is to the upside.
XDC’s price is above the weekly PoC, and if it can get above the resistance at 0.588, which is also a high-volume node, an increase to the 10-cent level is likely.
Trade Opportunities:
Currently, I don’t have a setup for XDC. However, a successful retest of the PoC at 0.0522 could provide a favorable entry. A break above 0.0588 and a retest could also be a long entry. The target in both cases is 10 cents.
I am reluctant to set targets above 10 cents until XDC proves bullish.
NFA
What do you think?
Please share in the comments
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.