Leading enterprise-focused layer-1 blockchain, XDC Network, appears to be breaking free after an electrifying +100% surge in price over the last week. Its rise ignited on July 18, capturing attention in line with events at ETH Barcelona and ETH Toronto.
However, the ascension isn’t without a few bumps in the road. After a recent jump in price, XDC is presently traded at $0.071, exhibiting a slight 24-hour decrease of -3.93%. The -20% downtrend in price comes on the heels of the retracement after topside rejection from an upper trendline around $0.09. Yet, despite the descent, XDC is stably trading above average moving levels. In essence, this dip serves as a nature-of-beast scenario following aggressive moves upwards to fresh resistance echelons.
With hints of a cause for concern following the recent +200% rally, XDC’s RSI experienced escalating heat levels, and a significant bearish divergence at 73.41 signals the blockchain might be highly overbought and expecting a correction. Yet, on the bright side, MACD stands emboldened by the upper swing with bullish divergence at 0.0017, creating somewhat an offset.
Amidst the significant rise, the risk to reward profile of XDC projects a potential avenue for buyers. Upside potential eyes resistance at $0.09 (+23.5%), while downside risks might result in setbacks to lower support levels. However, with an uncertain position on the price charts, several observers are shifting gains into other lucrative investments.
In another corner of the digital galaxy, a new entrant vying for pop culture’s spotlight is Shibie. This virtual token, designed on the fusion of Hollywood’s favourite Barbie and the ever-viral Shiba Inu, is set to redefine the meme coin space. Currently conducting its presale with almost $100,000 already raised, Shibie seems poised not to linger in the marketplace.
The exciting newcomer, with ambitious plans for sweeping marketing drives, ensures smooth trading while broadening its reach. This playful amalgamation of fantasy and elegance aims to enchant audiences and topple records, bringing diversity and inclusivity to the forefront.
Irrespective of its early stage, Shibie appears set to challenge the brightest stars in the crypto market, with a surplus of potential. However, it’s worth noting that crypto is a high-risk investment; ensure you’re adequately informed and prepared. Undoubtedly, heightened attention to blockchain technologies carries with it both rewards and challenges – a true testament to the ever-evolving world of crypto.
Source: Cryptonews
