eCash (XEC) Price Prediction 2023 — Will XEC Hit $0.0001 Soon?
- Bullish XEC price prediction for 2023 is $0.00005046 to $0.00008538.
- eCash (XEC) price might reach $0.0001 soon.
- Bearish XEC price prediction for 2023 is $0.00002158.
In this eCash (XEC) price prediction 2023, we will analyze the price patterns of XEC by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency.
eCash (XEC) Current Market Status
| Current Price | $0.00003053 |
| 24 – Hour Trading Volume | $62,206,029 |
| 24 – Hour Price Change | 0.636% Up |
| Circulating Supply | 19,445,348,423,293 XEC |
| All – Time High | $0.00005926(On December 27, 2021) |
What is eCash (XEC)?
ECash (XEC) is the rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It called itself a cryptocurrency that is designed to be used as electronic cash. XEC is not an ERC-20 token, it is its own blockchain similar to Bitcoin (BTC). The developers of eCash (XEC) intend the coin to support Ethereum Virtual Machine (EVM)-compatibility and to be interoperable with the decentralized finance (DeFi) sector on Ethereum (ETH).
eCash (XEC) Price Prediction 2023
eCash (XEC) ranks 67th on CoinMarketCap in terms of its market capitalization. The overview of the eCash price prediction for 2023 is explained below with a daily time frame.
XEC/USDT Horizontal Channel Pattern (Source: TradingView)
Horizontal Channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation
At the time of analysis, the price of eCash (XEC) was recorded at $0.00003053. If the pattern trend continues, then the price of XEC might reach the resistance levels of $0.00004544 and $0.00009995. If the trend reverses, then the price of XEC may fall to the support of $0.00003114 and $0.00002078.
eCash (XEC) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of eCash (XEC) in 2023
XEC/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of eCash (XEC) for 2023.
| Resistance Level 1 | $0.00005046 |
| Resistance Level 2 | $0.00008538 |
| Support Level 1 | $0.00003372 |
| Support Level 2 | $0.00002158 |
As per the above analysis, if Polygon’s (XEC) bulls take the lead, then it might hit and break through its resistance level of $0.00008538.
Conversely, if Polygon’s (XEC) bears dominate the trend, the price of XEC might plunge to $0.00002158.
eCash (XEC) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of eCash (XEC) are shown in the chart below.
XEC/USDT RVOL, MA, RSI (Source: TradingView)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of eCash (XEC) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the XEC price lies above 50 MA (short-term), indicating its uptrend. Hence, XEC is in a bullish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of XEC is at 52.99. Therefore, this indicates XEC is in an nearly overbought state.
eCash (XEC) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of eCash (XEC) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
XEC/USDT ADX, RVI (Source: TradingView)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of XEC lies in the range of 36.618332417 pointing out a strong trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of XEC lies below 50, indicating low volatility.
Comparison of XEC with BTC, ETH
Let us now compare the price movements of eCash (XEC) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs XEC Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price actions XEC is a dissimilar trend with respect to BTC and ETH. This indicates that when the price of BTC and ETH increases , the price of XEC decreases. And when the price of BTC and ETH decreases, the price of XEC increases.
eCash (XEC) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of eCash (XEC) between 2024 and 2030.
eCash (XEC) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then eCash (XEC) might successfully test and surpass its resistance levels to hit $0.0002 by 2024.
eCash (XEC) Price Prediction 2025
The significant upgrades in the eCash Ecosystem might persuade the entry of an increased number of investors. This may eventually boost the eCash (XEC) price to reach $0.00025 by 2025.
eCash (XEC) Price Prediction 2026
If eCash (XEC) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $0.0003.
eCash (XEC) Price Prediction 2027
If eCash (XEC) sustains major resistance levels and stands as a better investment option in the market, then XEC would rally to hit $0.0005.
eCash (XEC) Price Prediction 2028
If eCash (XEC) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then XEC would hit $0.0007 by 2028.
eCash (XEC) Price Prediction 2029
If investors flock in and continue to place their bets on eCash (XEC), then the crypto would witness major spikes. Hence, XEC might hit $0.0009 by 2029.
eCash (XEC) Price Prediction 2030
By 2030, the XEC price might rally to $0.002 if the trend momentum aligns in favor of Polygon. Furthermore, XEC would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.
Conclusion
If eCash (XEC) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish eCash (XEC) price prediction for 2023 is $0.00008538. Comparatively, the bearish eCash (XEC) price prediction for 2023 is $0.00002158.
If there is a positive elevation in the market momentum and investors’ sentiment, then eCash (XEC) might hit $0.0001. Furthermore, with future upgrades and advancements in the eCash ecosystem, XEC might surpass its current all-time high (ATH) of $0.0005926 and mark its new ATH.
FAQ
1. What is eCash (XEC)?
eCash (XEC) is the rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It called itself a cryptocurrency that is designed to be used as electronic cash.
2. Where can you buy eCash (XEC)?
Traders can trade eCash (XEC) on the following cryptocurrency exchanges such as Binance, KuCoin, Bitfinex, OKX and Gate.io.
3. Will eCash (XEC) record a new ATH soon?
With the ongoing developments and upgrades within the eCash platform, eCash (XEC) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of eCash (XEC)?
eCash (XEC) hit its current all-time high (ATH) of $0.0005926 On November 10,2021
5. What is the lowest price of eCash (XEC)?
According to CoinMarketCap, XEC hit its all-time low (ATL) of $0.0000173 on Jul 20, 2021.
6. Will eCash (XEC) hit $0.0001?
If eCash (XEC) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.00001 soon.
7. What will be the eCash (XEC) price by 2024?
eCash (XEC) price might reach $0.0002 by 2024.
8. What will be the eCash (XEC) price by 2025?
eCash (XEC) price might reach $0.00025 by 2025.
9. What will be the eCash (XEC) price by 2026?
eCash (XEC) price might reach $0.0003 by 2026.
10. What will be the eCash (XEC) price by 2027?
eCash (XEC) price might reach $0.0005 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/ecash-xec-price-prediction/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
