![\"XEC](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/01\/chart-15.png\")
<\/a>The US posted a 2.9% increase in GDP in Q4 2022, surpassing market watcher’s 2.6% expectation, according to a poll run by Reuters. The country’s consumer spending rose 2.1% with weekly jobless claims falling by 6,000 to 186,000 – these are the lowest claims since April.<\/p>\n
Global markets, including crypto, will likely finish the week’s trading in a catch-22 situation ahead of the Federal Reserve (Fed) decision on interest rate hikes, set for early next week. In December, the Fed raised the rates by 50 basis points to a range between 4.25% and 4.5% – the highest level in approximately 15 years. Investors are expecting the Fed to hike the interest rate, hopefully by a less aggressive figure of 25 basis points.<\/p>\n
Assessing The Profitability of XEC Price Ahead Of The Weekend<\/h1>\n
eCash has pulled back from its new yearly high of $0.000044 to trade at $0.000040 at the time of writing. The rally from support at $0.00002115 almost completed a 61.8% retracement based on Fibonacci levels.<\/p>\n
XEC price needs to hold onto higher support, preferably one provided by the 200-day Exponential Moving Average (EMA) (in purple) at $0.00003796. It is worth considering relatively higher support at $0.000040 but its viability seems shaky based on the prevailing technical outlook.<\/p>\n The Moving Average Convergence Divergence (MACD) indicator indorses the bullish narrative for XEC price as it lifts above the mean line (0.00). Traders can rest easy as long as the MACD line in blue stays above the signal line in red. Besides, long green histograms in the momentum indicator suggest that buyers have the upper hand, at least for now.<\/p>\n In case of a rebound, investors would be looking forward to XEC price lifting to the 61.8% Fibonacci retracement, the medium-term target at $0.00005, and a move to $0.00006 in the weeks. If the bullish outlook in eCash stays intact, bulls could even ‘eat’ another zero, propelling XEC price above $0.0001.<\/p>\n On the flip side, if investors decide to lock in more profits now, overhead pressure might stifle the recovery and force XEC to give up the gains accrued this month. That said, traders hoping to short XEC price may want to wait until it dips below the 200-day EMA first, before triggering their sell orders. The possible targets on the downside are the 100-day EMA at $0.00003 and the primary support at $0.00002115.<\/p>\n Before investors book new positions or increase their exposure to eCash following its impressive rally, they may want to consider the best crypto presales<\/a>, offering a fair risk-reward ratio.<\/p>\n Meta Masters Guild (MMG) is tapping the power of Web3<\/a> to create exciting mobile-focused blockchain games which people enjoy spending time playing. The ecosystem’s new approach relies on play-and-earn, as opposed to play-to-earn – seen with many other gaming platforms such as The Sandbox and Axie Infinity. Meta Masters Guild is ready to launch with three games, but currently rolling out MEMAG tokens in a presale<\/a> that has raised $1.45 million so far.<\/p>\n ? #MMG<\/a> is the largest mobile gaming guild in #Web3<\/a>, with fun & addictive games using playable #NFTs<\/a> where you can earn rewards, stake, and trade. ?<\/p>\n ? Want to learn more about #MMG<\/a> and our native coin $MEMAG<\/a>?<\/p>\n[2\/3]\n — Meta Masters Guild (@MEMAGgames) January 26, 2023<\/a><\/p><\/blockquote>\n<\/a>Should You Invest in eCash Today?<\/h2>\n
\n