Source / Sam Cooling x PfuderiMain digital cash venture eCash (XEC) has exploded +18% over the last 48-hours, as excitement for On-Chain staking upgrade grows amongst the eCash military – but is it too unhurried to purchase eCash?
The spectacular pump comes amid a flurry of snort for eCash, which has viewed on-chain trading volumes surge +1,455% over the last 24-hours in step with files from CMC.
As a accepted Bitcoin fork venture; a reincarnation of Bitcoin Money ABC, XEC is making waves with the promise of being the first Bitcoin-linked venture to provide On-Chain staking rewards.
And this excitement is at a time of heightened ardour in Bitcoin and derivative initiatives similar to Stacks (STX) which has also viewed an explosive +2.15% slump over the last 24-hours, and the Bitcoin BSC presale which exploded previous $3m earlier this day.
XEC Build Prognosis: Is it Too Slack to Shield eCash Amid Build Pump?With sign stream pushing up, eCash is currently trading at a market sign of $0.00002651 (representing a 24-hour replace of +4.74%).
This comes following the sensational +18% slump, which used to be introduced about by a necessary influx of trading volume stemming from increased promotion of the upcoming on-chain staking rewards on Crypto Twitter.
TradingView / XEC USDTXEC’s 200DMA put the brakes on the upside slump at the $0.0000275 sign level – which now kinds a key level of local resistance to crack.
On the opposite hand, with sign stream smashing by a 65-day long ceiling of resistance from the 20DMA to place company below-footing – technical structure appears to be like to be strengthening.
With sign now primed for a stride at the 200DMA, XEC’s RSI indicator has heated-up considerably, shifting to an over-bought signal at 61.44.
This kind of high reading on the RSI represents bearish divergence, and also can counsel that an extra retracement or a prolonged duration of consolidation is on the cards.
Yet, the MACD contrasts this flipping to minor bullish divergence at 0.000000046.
Overall, with genuine fundamentals stemming from the upcoming roadmap, the surge in XEC volume has viewed eCash technical structure give a make a choice to – poised for a stride at the 200DMA – but expecting an RSI frosty-down.
TradingView / XEC USDThis leaves XEC with an upside target at $0.000033 (representing a attainable +26.38%)
While downside possibility also can conception XEC tumble abet to the 20DMA down at $0.0000235 (a probable -10.27%).
eCash as a end result of this truth carries a possibility: reward ratio of 2.57 – a upright entry, and positively no longer too unhurried to purchase XEC.
On the opposite hand, while accumulate-holders speculate, on-chain traders are already scouring the marketplace for alpha sooner than the subsequent substantial pump utilizing main professional AI trading insights tool Launchpad XYZ.
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.Disclaimer: Crypto is a high-possibility asset class. This text is available for informational applications and does no longer checklist funding recommendation. It is doubtless you’ll well also lose all of your capital.