XEC has continued its uptrend at this time, September 19, following a pointy spike from $0.000022 to a excessive of $0.000028 on September 18. This worth transfer represents a virtually 23% improve.

Though there’s been a slight pullback, its worth stays round $0.000027. Within the early hours of at this time, XEC traded at $0.000027, with a 15% 24-hour worth improve. 

However as of the time of writing, XEC traded at $0.000026, with a 4% decline within the final 24 hours. Nonetheless, its buying and selling quantity stays up by 311% within the final 24 hours, depicting elevated community exercise. 

Curiously, the continuing uptrend has continued over the previous seven days with an over 17% improve in its worth. The bullish momentum has allowed XEC to retain most of its previous month’s achieve, with an 8% 30-day worth improve. However what’s driving it, and the way lengthy can it final?

What Is Driving XEC’s Rally And How Lengthy Will The Rally Final?

The eCash ecosystem has witnessed thrilling developments that sparked large investor curiosity prior to now few weeks. These developments could be the driving power behind XEC’s spectacular efficiency. 

One such innovation is the eCash Mainnet integration with RocketX, a crypto-swapping platform. This integration helps customers simply swap a number of cryptocurrencies, together with BTC, ETH, and Cosmos, with the XEC token, thus rising community exercise. 

Moreover, on September 13, eCash builders introduced that PayButton, a web-based vendor cost portal, now helps XEC. The upgraded PayButton, initially launched in February 2019, will make it simpler for on-line distributors to observe their funds. 

In keeping with the builders, the objective is to extend eCash utilization on-line. Additionally, they goal to realize elevated adoption by making eCash user-friendly. 

The improve has seemingly spiked the curiosity of buyers, given the rise within the world relevance of e-commerce. In keeping with Santiment information, eCash witnessed a 270% uptick in social quantity within the final three days. Additionally, community growth has elevated by 120% over the previous seven days.

Whereas these developments boosted XEC’s worth these previous few days, the continuing rally’s longevity stays unsure, given the market’s unpredictable nature. Nonetheless, the next evaluation might present hints.

Consumers Present Dominance On The Day by day Chart: Will Their Cost Maintain XEC’s Rally?

An in depth examination of the every day chart suggests the bulls are decided to facilitate extra beneficial properties for XEC. Their robust market dominance is clear within the formation of the big inexperienced candle on the every day chart.

Whereas the token’s worth stays beneath the 200-day Easy Transferring Common, the higher wick of at this time’s candle has a cost above this worth stage ($0.0000277). This implies that the bulls intend to maintain the rally for longer.

Nonetheless, XEC is bullish on the quick time period because the patrons have sustained its worth above the 50-day SMA. This statement additionally confirms an ongoing accumulation of the tokens, resulting in the prevailing worth surge. 

Given these technical indicators, the uptrend will proceed if XEC closes above the 200-day SMA within the coming days. Furthermore, the Relative Power Index (RSI) at 64.2, approaching the overbought space, confirms patrons’ dominance.

Moreover, this setup depicts an accumulation section as extra merchants open new lengthy positions forward of additional worth beneficial properties. The continued rally will seemingly persist till XEC attains an overbought situation when patrons attain saturation. Nonetheless, a retracement after it enters the overbought zone continues to be doable.