Rally

eCash

<ul class="list-ic vertical">
 <li>1 <a>XEC crypto price jumped above the 200-day EMA mark.</a></li>
 <li>2 <a>Buyers succeed in stretching the gains towards the $0.00005000 mark.</a></li>
</ul>
The eCash (XEC) crypto replicates buying momentum and retains the round mark of $0.00005000. Amidst the price consolidation, the token has yet to trigger a rally ahead.
In addition, XEC crypto made a double bottom formation and received support on the 200-day EMA mark. Nonetheless, if the eCash crypto price succeeds in breaching its 20-day EMA hurdle, a possible up move can be seen shortly.
At press time, the eCash crypto price traded at $0.00004969 with an intraday surge of 3.10%, reflecting neutrality on the charts. It has a monthly return ratio of -4.30% and 101.29% yearly.
The pair of XEC/BTC is at 0.000000000721 BTC, and the market cap is $977.73 Million. Analysts are neutral and suggest that the <a href="https://www.thecoinrepublic.com/2023/12/28/the-xec-price-shot-up-23-will-ecash-break-last-6-months-high/" target="_blank" rel="noopener noreferrer nofollow">XEC price</a> will continue to reflect range-bound price moves, which might reveal neutrality ahead.
<h2 class="wp-block-heading" id="strong-will-xec-price-escape-out-of-range-ahead-strong">Will XEC Price Escape Out Of Range Ahead?</h2>
For weeks, the XEC crypto signifies low-volume buying, and the token stays in a narrow range, which signifies consolidation.
Meanwhile, the buyers secured the 200-day EMA mark and reverted back from there.
A break and close above the $0.00006000 mark would confirm the double bottom breakout and might trigger a solid up move ahead. <iframe loading="lazy" title="Santiment Chart: Price (XEC), Volume (XEC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=uniswap&amp;pt=UNI&amp;df=2023-11-24T18%3A29%3A59.294Z&amp;dt=2024-05-24T18%3A29%3A59.294Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Becash%3BXEC%5D%3B%5B1%3Bvolume_usd%3Becash%3BXEC%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
Source: Santiment
Amid the range-bound price moves, the trading volume remained flat and dropped by 21.90% to $12.21 Million. Ranked at 99 per the market cap, the token has a total supply value of 21 trillion.
Per the technical analysis of 26 indicators, 9 indicators gave a sell rating, whereas 9 gave neutral, while only 8 indicators looked strong and suggested a buy call.
The RSI curve stays close to the midline region and signifies a convergence of the signal line with the RSI line, suggesting a possible crossover soon.
<h3 class="wp-block-heading" id="strong-social-volume-and-twitter-follower-data-indicate-optimistic-outlook-strong">Social Volume and Twitter Follower Data Indicate Optimistic Outlook</h3>
This week, a significant surge in the social volume data was noted. The social volume signifies a rise of over 2% to 38 mark. Notably, the data highlights the decent participation of investors on social media platforms. <iframe loading="lazy" title="Santiment Chart: Social Volume (XEC), Twitter Followers 24h (XEC)" width="1170" height="450" src="https://embed.santiment.net/chart?ps=uniswap&amp;pt=UNI&amp;df=2023-11-24T18%3A29%3A59.294Z&amp;dt=2024-05-24T18%3A29%3A59.294Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_volume_total%3Becash%3BXEC%5D%3B%5B1%3Btwitter_followers_24h%3Becash%3BXEC%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%224d%22%7D%3B%7B%22interval%22%3A%224d%22%7D" scrolling="no"></iframe>
Source: Santiment
Going forward, the Twitter follower data revealed the up move and soared over 76% to 102, reflecting that users have started discussing the reports on the Twitter platform, which led to an incremental move.
<h4 class="wp-block-heading">Futures OI Data Revealed Short Covering</h4>
This week, signs of short trap activity were witnessed, and sellers have covered their positions, leading to a notable price spike of over 13%.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="236" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-330-1024x236.png" alt="XEC" class="wp-image-206969" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-330-1024x236.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-330-300x69.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-330-768x177.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-330-750x173.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-330-1140x262.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-330.png 1443w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
Source: coinglass
The open interest data declined over 2.30% to $29.27K in the last 24 hrs, revealing the short covering activity.
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion</h3>
The eCash (XEC) crypto signifies range-bound moves and is eyeing to surpass the 20-day EMA mark to trigger bullish momentum ahead. For weeks, the token has not demonstrated significant volume buying and stays calm below $0.00005000.

XEC Gained Momentum: Can It Trigger a Rally Beyond 20-Day EMA Mark?

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