XEC Price Analysis: Dearth of buyers pushes eCash to the brink

•XEC/USD is currently priced at $0.000021 and has decreased by 1.56% over the past day 

•The trading volumes have decreased by 17.74% over the past day 

•The technical indicators suggest a bearish outlook for the near term 

Short Term View: XEC bulls unable to climb out of the rut

The eCash price today is $0.000021 USD with a 24-hour trading volume of $5,352,886 USD. eCash is down 1.56% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.0129 for the altcoin.

eCash bears have proved to be great foil for the investors as they have been successful in curbing any and every positive momentum building up in the altcoin. This has resulted in the altcoin experiencing great losses, a stat which is depicted by the XEC Price transacting below the 20,50 SMA on the four hour chart. The bulls will have their hands full in attempting to scale the $0.000025 threshold level whereas on the other hand, the bears will be looking to sink their teeth deeper into the altcoin and bring the eCash price below the $0.000015 mark.

Long Term View for eCash

The continued presence of the bears has brought major downturns for eCash as the red histograms have been continually gaining traction on the daily chart. The MACD and signal lines further put more salt into the bulls’ wounds as they continue to transact deep into the negative territory. The RSI is currently transacting at 26.72 which depicts the underlying bearishness prevailing in the market aptly. 

Conclusion 

After a relatively smooth passage over the past month, the past two weeks have been tough for eCash investors as they have repeatedly been led astray. The underlying bearishness prevailing in the market would likely result in further losses incurred by the altcoin.

Support: $0.000015

Resistance: $0.000025

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. 

News Source