bullish

eCash

April

Million

Reversal

<a href="https://www.thecoinrepublic.com/2023/12/28/the-xec-price-shot-up-23-will-ecash-break-last-6-months-high/" rel="noopener noreferrer nofollow">eCash</a> is on a two-day gaining streak, adding nearly 20% in the period. The recent XEC price surge amazed investors as they rushed to grab the token before it reached the moon.&nbsp;
Moreover, it was evident from the few on-chain data, such as weighted sentiment and transaction volume. Despite the long-term bearish trend, the short-term positive waves added a ray of hope for a better future among investors.&nbsp;
<h2 class="wp-block-heading" id="h-weighted-sentiment-entered-the-positive-territory">Weighted Sentiment Entered the Positive Territory</h2>
Earlier, eCash price entered a correction phase in the 1st week of April, dropping over 60% by June end.&nbsp;
However, the bulls initiated a recovery in July and seemed to be gaining momentum at the time of writing. This suggested a possible bullish shift in the trend ahead.&nbsp; <iframe title="Santiment Chart: Negative sentiment (Total) (XEC), Positive sentiment (Total) (XEC), Weighted sentiment (Total) (XEC)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ecash&amp;pt=XEC&amp;df=2024-04-26T18%3A30%3A01.111Z&amp;dt=2024-07-27T18%3A29%3A59.111Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_negative_total%3Bsentiment_positive_total%3Bsentiment_volume_consumed_total&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
Moreover, on-chain metrics have started shining off before the price reclaims the bullish territory. In tandem with the recent price surge, the weighted sentiment curve seemed to be entering positive territory. It indicated a possible bullish shift in the trend.&nbsp;
The weighted sentiment curve reflected the overall bias of the traders and investors, whether bullish or bearish.&nbsp;
As per the data from an on-chain analytics website, the weighted sentiment curve was below the zero line at press time. It shifted its territory after surpassing the zero line.&nbsp;
Additionally, the transaction volume highlighted an 828% growth in the past 24 hours, indicating an increased demand. The transaction volume was recorded as $115.54 Million per day.&nbsp;
Also, the volume-to-market cap ratio was 9.48, which indicated mild volatility. With a live market capitalization of $781.6 Million, eCash ranked 93rd in the crypto-verse.&nbsp;
<h2 class="wp-block-heading" id="h-will-ecash-make-a-bullish-reversal-or-fail">Will eCash Make a Bullish Reversal or Fail?</h2>
eCash price gained over the last few weeks. It was evident from the 15% rise intraday. Despite a gain of over 24% a month, eCash still lags 23% from its three-month high.&nbsp; 
<a href="https://in.tradingview.com/chart/XECUSD/hG99WSdf-eCash-Soars-15-A-Day-Social-Metrics-Sentiments-On-The-Rise/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/" rel="noopener noreferrer nofollow"> </a> &nbsp; <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"> </a> 
However, the recent sessions displayed the bulls’ domination, which might help the crypto recover soon. The price surpassed the 20 and 50-day exponential moving averages, indicating that a bullish reversal was likely in the short term
On the higher side, the most important hurdle is the 200-day EMA. If surpassed, it may mark a bullish reversal, and the crypto may rise higher.
Additionally, the MACD indicator surpassed the zero line and was heading higher, suggesting a bullish continuation.
eCash price has surged nearly 20% over two days, sparking investor interest. After a 60% drop from April to June, a recovery began in July. It indicated a potential bullish trend—the On-chain metrics and a positive weighted sentiment curve support this outlook.&nbsp;
Recent gains include a 15% rise today and a 24% increase over the past month. Still, the eCash price lags 23% from its three-month high.&nbsp;
The price surpassed the 20-day and 50-day EMAs. The 200-day EMA will act as the next key resistance. The MACD indicator suggests a bullish continuation.
The post <a href="https://www.thecoinrepublic.com/2024/07/29/ecash-price-soars-15-a-day-social-metrics-sentiment-rising/" rel="noopener noreferrer nofollow">eCash Price Soars 15% A Day: Social Metrics &amp; Sentiment Rising</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

eCash Price Soars 15% A Day: Social Metrics & Sentiment Rising

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