Xcn was a few weeks. Shortly after paying it from $ 0.020 in May, the price was a steady decrease, and is now trading about $ 0.0134. The declining trend was fixed, as the lowest low levels and lower lower levels show that sellers are still controlling. However, there is an important thing to form on the graph – and it may be the first real sign that momentum may turn.
Looking at the graph for 4 hours, the Xcn price recently wore a soft support area over $ 0.0130. This is not the most powerful level of support we have seen, but it was held for several candles now, which is noticeable given the severity of the sale earlier this month.
What makes this stain more interesting is that it is less than the moving average 200 periods, currently about $ 0.01383. This line has been spent like the ceiling for several weeks, but now the price tests it again.
If Xcn is able to restore 200 mAh and close some candles over it with size, this may be the first mark that the direction began to turn. This does not guarantee a complete reflection, but it may open the door to a short -term bounce of about $ 0.015 or even $ 0.0165. These levels have been resistance before and the following areas to see whether buyers were entering.
On the other hand, if Xcn fails to restore this moving average and lose support at $ 0.013, there is the risk of another leg. The next logical support area is located near $ 0.0125, and if that is collapsing, we may see a low step up to $ 0.011 or even $ 0.0098, especially if the broader market remains weak.
RSI on the graph for 4 hours hovering about 37, and is close to the sale area. This indicates that the negative momentum may slow down, at least temporarily. It is not after a purchase signal on its own, but when the support area and its proximity are associated with 200 mA, it is sufficient to monitor.
Now, xcn is in a fragile place. He did not confirm the opposite of the direction, but it also did not collapse more. The next few days will be a key. If the bulls are able to turn this 200 mAh in support, things may start to look more optimistic. But if not, the milling may continue.
In short, Xcn is struggling – but it is at a technical crossroads. One clean step above 200 mAh can completely change the tone. Until then, cautious optimism is the best way.
Subscribe to Our YouTube channel For daily encryption updates, market visions, and expert analysis.
