Relatively low in popularity according to CoinMarketCap data Chain (XCN) It has increased by 25% in the last 24 hours. At the time of writing, XCN price was trading at $0.06267. Bitcoin (BTC) and Ethereum (ETH) Against it, it gained value by 25.11% and 24.85%.
XCN, which peaked at $ 0.06653 on the daily chart, declined slightly from this level. On the other hand, the daily trading volume increased by 292%. The trading volume can be seen as $42,980,386 on a daily basis.
Koinfinans.com As we have reported, EMAs drew attention on the 4-hour chart. The 9 EMA has broken above the longer 20 EMA at the start of the upward move in the last 24 hours. EMA is the English abbreviation of exponential moving average.
There was momentum leading to the action that can be seen in the 5 candles before the green candle which saw the price increase above the 9 and 20 EMA lines of XCN.
It then took liquidity from the market to feed the next leg which pushed the price of XCN to $0.07129 before closing the candle at $0.06645.
After that, traders and investors took profits as can be seen in the first red candle of the series and closed the price of XCN at $0.06244.
There is still some bullish momentum on XCN’s daily chart along with the relative positions of the 9 and 20 EMA lines. Also, the RSI line is positioned above the RSI SMA line. However, the upward movement may lose some strength as the slope of the RSI line becomes neutral. This may be a short pause before a slight downward move.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.