The cryptocurrency industry continues to display a mixed sentiment due to increased volatility in the market. Further, mid-cap and low-cap tokens have added significant valuation to their respective portfolio, indicating a switch of interest among the investors.
On the other hand, the XEC price has displayed a positive trend after trading under a bearish influence for about a week. However, the bulls repeatedly failed to break out of its major resistance level at $0.00007225, highlighting a strong liquidation point at that level in the market.
The XEC price concludes the last month of Q1 on a positive note by adding 84.41%, from $0.00003607 to $0.00006652 during this time. However, after recording a new monthly high, the price lost momentum, and since then, it has been trading in a closed range, indicating a weak price action.
Despite the altcoin recording a loss over the past 30 days, the eCash price has added 8.50% within the past 24 hours and has a Year-to-Date (YTD) return of approximately 90%, highlighting a bullish outlook for it during the upcoming months.
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The technical indicator, MACD, shows a constant rise in the green histogram, indicating an increased bullpower in the crypto market. Furthermore, the averages display a bullish convergence, suggesting a positive price action for the altcoin in the coming time.
If the market pushes the price above the resistance of $0.000072, the bulls will run to test its resistance level of $0.000086 during the upcoming week. Moreover, if the bulls hold the price at that level, it will continue rising and test its upper resistance level of $0.0001 in the coming time.
Negatively, if the bears overpowered the bulls, the price would lose momentum and test its support level of $0.000056. Further, if the bears continue to hold power, the XEC price will plunge and test its lower support level of $0.000043.
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