XDC Network Price Analysis: XDC Token Price Corrects to $0.0615 in Bear Markets

XDC Network price analysis shows that the bears were able to suppress price levels below the $0.0627 level during the latest downtrend. The bears rule the price charts as the price declined again during the day. Currently, it is set at the $0.0615 mark and is also expected to drop to an even lower level in the next few hours. The bearish momentum must continue going forward and the broader cryptocurrency market is predicting a downtrend.

XDC/USD 1-Day Price Chart: XDC Unable to Resist Bearish Pressure

The 1-day price chart for XDC Network Price Analysis shows that the price has been declining quite steadily due to the steadily increasing bearish momentum. The bears were able to lower the price to $0.0615 at the time of writing, and further decline is also expected in the next few hours. The moving average (MA) value is still high from the current price i.e. $0.0626. The SMA 20 curve is also rising due to the previous uptrend.

24 hour XDC/USD price chart. Source: Commercial view

Volatility also increased due to the expansion of Bollinger bands. As a result, the upper and lower values ​​of the Bollinger Bands have changed, as the upper value is now $0.0668 while the lower value is $0.0514; the lower value also represents XDC price support. The relative strength index (RSI) score has decreased but is within the neutral limit and stabilizes at the index 55; however, the downward curve of the indicator hints at selling pressure in the market.

XDC Network Price Analysis: Recent Developments and Other Technical Indications

The 4-hour price analysis from the XDC Network shows signs of bearish activity as the price has fallen to a considerable level. The price currently stands at $0.0615 and is expected to decline further in the next period. However, support sins also appear as a small green candlestick emerges. The other important indicators on the 4-hour price chart are the Moving Averages (MA) indicator and the Bollinger Bands indicator, which are located at $0.0623 and $0.0627 respectively.

XDCUSD 4 Hours Price Chart 2022 05 08
XDC/USD 4 hour price chart. Source: Commercial view

Volatility is high in the four-hour chart, which may give bulls a chance to raise price levels in the future price movement. The upper value of the Bollinger Bands indicator reached $0.0655 while the lower value reached $0.0599. The RSI score is rising again as buying activity resumed in the market and hit the 42 index.

Conclusion of XDC Network Price Analysis

The 1-day price analysis above, along with the 4-hour price analysis from the XDC Network, confirms that the bears have successfully maintained their lead over the past few days after price reached a final low. high at $0.0656. The price has also declined today and sits at the $0.0615 position at the time of writing, and the bearish momentum may intensify in the coming hours.

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