bullish

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eCash

The post <a href="https://coinpedia.org/price-analysis/xec-price-faces-multiple-hurdles-before-2x-breakout-surge/" rel="noopener noreferrer nofollow">XEC Price Faces Multiple Hurdles Before 2x Breakout Surge</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a bullish attempt to make a comeback this year, the XEC price trend shows a recovery rally in motion. However, the recovery trend is about to face multiple resistances along the way.&nbsp;
Further, the broader market conditions warn of a surge in bearish sentiments in the altcoins segment. So, will the XEC price sustain the bull run in motion or take a dip under the 50-day EMA? Let’s take a closer look at the eCash price analysis for a clearer view of the ongoing trend.&nbsp;
<h2 class="wp-block-heading" id="h-xec-price-recovery-rally-takes-a-quick-sideways-turn-nbsp">XEC Price Recovery Rally Takes A Quick Sideways Turn&nbsp;</h2>
In the daily chart, the eCash price trend shows a triangle pattern formation with the help of ongoing recovery. The recovery rally surpasses the 50-day EMA and faces opposition from the 200-day EMA.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfqcXSurmJfOWRcsvXj1eNR177KOLeVx-nw1GdzpLBhHfidDFv4k_neIhV6n8X3kerYK9Nu57Anbn0couOL2w3QvHIf6z5cjpOZtQl3mmTJhCz73VTAN0hIXZYEI_kohnLsCmY_sEvWu5fKjTx8yAHzX2uU?key=Vp4oSMQWsDJsi8x3tnY-MA" alt="">
</figure>
<a href="https://www.tradingview.com/x/eBqHbTTC/" rel="noopener noreferrer nofollow">TradingView</a>
The overhead rejection results in a sideways movement between the 200-day EMA and the 50-day EMA, post death cross. Further, the XEC price action approaches the bottleneck portion of the triangle pattern.&nbsp;
Currently, the altcoin trades at $0.00003876 with an intraday gain of 4.19% in an attempt to undermine the 5% drop last night. With a bullish candle formation, the sustenance above the 50-day EMA teases a bullish outcome.&nbsp;
Technical Indicators:
RSI: The daily RSI line maintains a positive flow and continues approaching the overbought boundary with an uptick.&nbsp;
MACD: Following the bullish crossover, the MACD and signal lines sustain an uptrend above the halfway line.&nbsp;
Hence, the momentum indicators support a positive trend possibility in the XEC price.
<h2 class="wp-block-heading" id="h-will-ecash-surpass-200-day-ema">Will eCash Surpass 200-day EMA?</h2>
Acting as the overhead dynamic resistance, the 200-day EMA is a crucial supply area in XEC price action. However, a push from broader recovery and a potential uptrend continuation could exceed the average line. Further, this will increase the triangle breakout chances.&nbsp;
According to the Fibonacci retracement levels, the eCash price can hit the 100% Fib level at the $0.000080 mark.&nbsp;

XEC Price Faces Multiple Hurdles Before 2x Breakout Surge

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