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The eCash price soared 63% in the last 24 hours to trade at $0.00007387 as of 04:57 a.m. EST on trading volume that exploded 2,408% to $1.4 billion.
XEC was rebranded from Bitcoin Cash ABC (BCHA) in July 2021, and is a fork of Bitcoin (BTC) and Bitcoin Cash (BCH).
It’s pump comes as Bitcoin is on the verge of breaking its all-time high (ATH) of $69,000, having touched $68,762 within the last day.
With only 49 days to go before the halving event, many analysts and investors are speculating that we could see a new all-time high soon. If this happens, it will be the first time in Bitcoin’s history that it breaks its ATH before a halving event.
The eCash Price Bulls Sustain The Bullish Stance Above The Falling Wedge
The eCash price has been on an upward trajectory, recording massive gains this year, as it breached the upper boundary of the falling wedge pattern from the start of the year.
XEC bulls have shown resilience, as they have overcome the psychological barrier at $0.000060, and reclaimed the resistance at $0.000096 before a slight retrace back to the current price.
XEC is currently trading well above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a confirmation of the bullish momentum. Moreover, the Relative Strength Index (RSI) is currently in the overbought region at 90, coinciding with the growing investor optimism.
The Moving Average Divergence Convergence (MACD) is also bullish, as the moving average line (green) crosses above the signal line (orange), indicating a bullish crossover.
Additionally, the green bars on the histogram extend well above the zero line, which indicates positive momentum. The Average Directional Index (ADX) is in support of the positive momentum as it trades north at level 38, which shows a strong bullish trend.
eCash Price Prediction
The eCash price long-term analysis shows a bullish bias, as the bulls sustain the price above the falling wedge pattern. Additionally, the RSI and ADX indicators create a favorable outlook for optimistic investors.
The 50-day SMA is also trading above the 200-day SMA, forming a golden cross at $0.00002726. The MACD also forms a bullish crossover, an encouragement for investors to take more positions. Generally, the bulls are looking to capitalize on these factors to rally the price further up, as they aim for $0.00014, a 91.86% rise from the current price.
However, the RSI has already entered the overbought region, which could signify a looming price correction. If this happens, the price could experience a pullback to the support zone around $0.00004510, acting as a cushion against downward pressure.
Meanwhile, as the XEC bulls register massive gains from the recent surge, investors are also looking to Green Bitcoin as another way to play the Bitcoin bull run.
Green Bitcoin (GBTC) Nears $1.97 Million Funding Target – Best Crypto To Buy Now
The Green Bitcoin (GBTC) presale has already amassed over $1.8 million in early funding as it hurtles towards its $1.97 million target. Green Bitcoin, an eco-friendly version of Bitcoin, allows you to earn money by predicting Bitcoin prices through its Predict-to-Earn feature.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
If you predict correctly, you can earn incentives based on the accuracy of the forecast and the amount you stake. The Gamified Green Staking model resets daily, which ensures that the community is continuously engaged.
Stake $GBTC, 198% Annual Rewards
The project also aims to reward long-term holding by allowing them to stake your $GBTC tokens and earn passively with an impressive 198% annual percentage yield (APY). Currently, there are over 2.9 million $GBTC tokens already staked.
Did you know you can earn HUGE, simply by staking your Green Bitcoin?
If you haven't yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O
— GreenBitcoin (@GreenBTCtoken) February 25, 2024
YouTube channel CryptoNews says that Green Bitcoin has the potential for 10X returns on launch.
To join the presale, you can buy $GBTC for $0.6122. But that price will rise in less than five days, so act now to secure the best deal.
You can buy $GBTC from the official Green Bitcoin website and exchange ETH or USDT for $GBTC tokens. You can also buy directly using your bank card.
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