At first, it was called Bitcoin Cash ABC (BCHA), which was a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). Then rebranded to eCash (XEC). Maybe the eponym similarity to Bitcoin Cash is causing this token to become popular and thus rise upward. Let's see what happens.
Since April 2022, the price has been moving in a bearish flag pattern that was broken to the upside
Moving Average 100 has been broken
Current price is 0.00003504
First target 0.00004062
Second goal 0.000004797
Which represents 175% of the current price
Please pay attention to the correction areas on the chart
🔥 Price on the 4H chart might come at these support area and we might get a potential bounce🔥
Potential bounce areas for Buying 0.00003729 and 0.00003216
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ECASH / XECUSDT is trading inside a Channel Down in the past 18 months.
The price just crossed over the Falling Resistance, that when broken on prior bearish legs, it started a huge parabolic rally.
Buy and target 0.00003950.
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XEC caught everyone by surprise when it surged 100% from 0.022 area. From thereon, it has corrected quite a bit to midline range at 0.5 FIB LEVEL -- where buyers are interested again.
HISTOGRAM HIGHER LOWS 3H
MIDLINE 0.5 FIB LEVEL BOUNCE
Initial net buying volume on 4H.
Spotted at 0.035
Safeguard capital always.
◳◱ A Resistance Breakout has been identified on the TSX:XEC / CRYPTOCAP:USDT chart. The price has broken above a key resistance level, indicating a potential bullish trend. The next resistance key levels are located at 0.00002747 | 0.00003092 | 0.0000383, and the major support zones can be found at 0.00002009 | 0.00001616 | 0.00000878. Consider entering at the...
Pretty interesting to look at eCash (XECUSD) using this index as it shows two strongly revealing and interesting sessions in the past weeks.
One happened 25-May, notice the huge long lower wick.
All the stops activated, sellers exhausted for sure.
Fast forward to present day and we have an even lower wick, yet the current session is trading GREEN.
Bitcoin is currently under resistance, but there is a high potential to break the trend line and turn it into an upward movement. Do not forget that entering any position requires confirmation.
⚠️ "Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
eCash | XEC is going against the grain, possible short!?
XEC is a weird one and a little risky as its going against the general market but it seems to be sharing a lot of bearish signals with a key break out of the pattern and bearish divergence
| Bearish Signal
| Break down from pattern
| Rejected from 20 Daily EMA
| Filled Weekly Pivot and rejected
| Last Key...
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This is a one-day-time frame analysis for XECUSDT.1D
The price is currently fluctuating and being tested at our first support line. If the price fails to penetrate above the line and consolidate and we see weakness in the trend, it can move towards our second support line. But if it can penetrate...