A price recovery in sight

The XinFin network is up over 8% in today’s trading session. This is after a series of difficult trading sessions, including yesterday, where the crypto lost 7%, and Wednesday, when prices fell 21%.

Today’s price gains coincide with the rally in the global cryptocurrency market. In the past 24 hours, the crypto market cap jumped 9%, bringing the total to $1.29 trillion. The rally comes in a week that has seen major cryptocurrencies fall more than 20%. Bitcoin, for example, fell below $30,000 and affected many altcoins that are positively correlated to it.

XinFin Network Price Prediction

XinFin rallies in today’s trading session and is up 8% today. Currently trading at $0.045, the cryptocurrency experienced a long-term bearish move this month that saw it lose 26% of its value.

Looking at the chart below, we can see a bullish divergence on the RSI indicator. Such a divergence suggests that the trend is likely to change in most cases. The chart also shows that the Alligator Williams is giving signals of reduced volatility in the market. This may signal the early stages of the price reversal.

Therefore, my XinFin price prediction expects the cryptocurrency to continue with the current uptrend. There is a very high probability of a trend reversal after days of strong bearish movement. If so, it is highly likely that we will see prices break above the $0.067 support level in the next few trading sessions. If the bullish push is strong enough, a price level of $0.1 will also be possible.

However, if prices eventually break the last $0.03 low, my trade analysis will be invalidated. It will also mean that the cryptocurrency is still in a bearish move. If this happens, it would also mean that the current rally is a bearish flag rather than a trend reversal.

XinFin Network Daily Chart