- XCN’s price rose 25.94% over the last 24 hours.
- The trading volume for XCN surged 292% in the same time period.
- A slight retracement in the next 12 hours may be on the cards for XCN.
The price of Chain (XCN) has risen 25.94% over the last 24 hours according to the crypto market tracker, CoinMarketCap. The price of XCN is trading at $0.06267 at press time and has strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH) by 25.11% and 24.85% respectively.
After setting a daily high at $0.06653, the price of XCN has retraced slightly to its current level. Its daily trading volume has surged by 292% as well over the last day taking the total trading volume to $42,980,386.
4-hour Trading Chart of XCN/USDT (Source: CoinMarketCap)
In the 4-hour chart, the 9 Exponential Moving Average (EMA) has crossed above the longer 20 Exponential Moving Average (EMA) at the start of XCN’s upwards move over the last 24 hours. There was momentum leading up to the move that can be seen in the 5 candles prior to the green candle that saw XCN’s price impulse above the 9 and 20 EMA lines.
Shortly thereafter, liquidity was taken from the market to fuel the next leg up that took XCN’s price to a high of $0.07129 before closing the candle off at $0.06645. Thereafter, traders and investors took profit as can be seen by the first red candle of the sequence – bringing XCN’s price down to close at $0.06244.
There is still some bullish momentum present on XCN’s daily chart with the relative positions of the 9 and 20 EMA lines. In addition, the RSI line is positioned above the RSI SMA line. However, the upward movement may lose some steam as the slope of the RSI line has turned neutral. This may be a brief pause before a slight move down.
Disclaimer: The views and opinions as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
The post Chain (XCN) Surges 25+% in 24 Hours; What’s Next for Its Price? appeared first on Coin Edition.