XDC possible breakout incoming
XDC Update:The price is at a critical point right now with the RSI consolidating sideways below 50, and a strong medium-term uptrend acting as support. Key levels to look out for right now:
Resistance zone - $0.1203 to $0.1267
Support zone - $0.0931 to $0.1004 (also at the 78.6 Fib ext)
The price is currently trading towards the apex of an asymmetrical triangle that has been forming on a daily timeframe, whilst also trading within the resistance zone identified on the chart and mention earlier in this memo.
Provided the price breaks out of this range, the next key level of resistance would be $0.1311 which is also situated perfectly on the 50 Fib ext.
If the formation is invalidated and the price breaks to the downside, we would be looking for a bounce at the support zone identified.
#DYOR #NFA #XinFinNetwork
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