Join Our Telegram channel to stay up to date on breaking news coverage
XDC, the native cryptocurrency of the XDC Network, surged by 85% from $0.03268 to $0.0604, marking its highest price in 2023. However, the price has since dropped to $0.05152, leading to concerns about its ability to retest the $0.06 high.
XDC is showing strong bullish momentum, currently trading 57.9% higher this week and experiencing a 55% surge in the past month. Moreover, the altcoin has witnessed an impressive 78% increase over the last six months and is currently trading 104% above its January 1 opening.
Despite impressive trading volume of $26,008,149, which has surged by 51% in the past 24 hours, the token continues to draw increased interest, with hopes of maintaining the momentum in the long term.
The token’s price surge follows the blockchain project’s partnership with Japan-based crypto trading company SBI VC Trade to sponsor the WebX 2023 event.
XDC Network, a crypto firm, revealed its Gold Sponsorship of a major Japanese event organized by Coin Post, a prominent crypto news outlet in East Asia, through a tweet on July 20.
XDC Network is thrilled to announce that we are a Gold Sponsor of @WebX_Asia organized by @coin_post , a premier event in Japan! 🇯🇵
After the strategic partnership with @sbivc_official, this sponsorship will further enhance our presence in the Japanese market, and we can't wait… pic.twitter.com/KnKG2mSUrf
— XinFin (@XinFin_Official) July 20, 2023
The upcoming event presents XDC network users with a chance to explore exciting opportunities, discover cutting-edge innovations, and engage with industry leaders.
The XDC community is thrilled about the network’s future, which has driven the price upward in the past week.
I've been so vocal about why $XDC is a must accumulate asset for so long.
The wait is always worth it to those who value patience. pic.twitter.com/gEZUVcNMUF
— Nick | Crypto Crusader (@NCashOfficial) July 22, 2023
XDC Network Price Turn Down – Key Levels To Watch
XDC price remains 13% below the recent swing high of $0.0606, with sellers booking profits on the recent rally. Key support levels to monitor are the 38.2% Fibonacci retracement at $0.049, the psychological level of $0.045, and the 61.8% Fibonacci at $0.043.
XDC price finds additional support between $0.04 to $0.033, where major SMAs are located. If these support levels are broken, XDC may drop to the $0.032 support line, erasing recent gains.
XDC/USD Daily Chart
XDC’s bearish outlook is reinforced by the sharp decline in the Relative Strength Index (RSI), which reached an overbought level of 76, indicating that the bullish momentum is waning and bears are gaining control of the price.
XDC faces key resistance levels at the 23.6% Fibonacci retracement ($0.053) and the $0.06 swing high. If these levels are surpassed, it could signal a shift in sentiment, leading to potential price discovery for XDC in 2023.
XDC Alternatives
After a strong rally, XDC’s overbought condition led to a retrace, leaving potential buyers uncertain about a possible price recovery.
A better alternative to this token is Wall Street Meme ($WSM), a meme coin project driven by an active crypto community, creating value for worthless tokens. It rises against capitalism and the monopoly of control from the large institutions in a capitalist society.
Wall Street Memes promote the internet’s triumph over capitalism built on a belief that Greed is good, a saying popularized by Gordon Gecko in the 80s. It is a fun ecosystem for users to interact using memes and engage in meme-themed contests for exciting rewards.
WSM is inspired by WallStreetBets (WSB) and the NFT market, and aims to replicate the camaraderie and influence witnessed in the GameStop short squeeze. With a focus on leveraging meme coins’ power and social media, WSM encourages investors to utilize memes to troll the stock market, while offering decentralized finance (DeFi) opportunities and a unique memetic appeal for its community.
Currently, Wall Street Memes have sold off tokens worth $16.2M in its final presales stage with a hard cap of $16.7M. This reflects the increasing interest in the token and strong investor optimism for success. The $WSM token is live today, and 1 WSM equals $0.0319.
Visit Wall Street Memes here to find out more about the project and the ongoing presale.
Related News
- 10+ Best Bitcoin Live Casinos to Play At 2023
- In Attempt to Satisfy SEC, Bitcoin ETF Refilings Spearheaded by Fidelity
- Venture Capital ICO Gambits Left Bitcoin Ecosystem Underfunded, Says Adam Back
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $40+ Million Raised at ICO - Ends December
Join Our Telegram channel to stay up to date on breaking news coverage
