The cryptocurrency market has carried out poorly to date at this time, however XEC is the very best performer amongst the highest 100 cryptocurrencies.
XEC, the native token of the eCash ecosystem, is the very best performer amongst the highest 100 cryptocurrencies at this time. The coin has rallied by greater than 30% during the last 24 hours, outperforming the broader market within the course of.
The broader cryptocurrency market has been underperforming within the final two weeks. The market has misplaced greater than 1% of its worth to date at this time, with the entire market cap now under the $1 trillion mark as soon as once more.
Bitcoin has dropped under $20k for the primary time this month. At press time, BTC is buying and selling at $19,813, down by greater than 1% to date at this time. Ether has additionally misplaced its help above the $1,500 degree and is now buying and selling at $1,449 per coin.
XEC’s rally comes after the event crew announced that the Avalanche Submit-Consensus would go stay on the eCash Mainnet on Sept 14th.
In accordance with the crew, Submit-Consensus brings 51% assault prevention which will increase the safety of the community considerably, bringing it on par with main Proof-of-Work chains. It additionally brings 1-block finality to eCash, which opens the door for exchanges to allow 1 affirmation deposit.
Key ranges to look at
The XEC/USDT 4-hour chart is extraordinarily bullish as eCash is performing excellently amidst a bearish run from the broader market.
The MACD line jumped into the optimistic zone on Sunday and continues to stay inside that territory, indicating bullish momentum. The 14-day RSI of 74 reveals that XEC might enter the overbought area if the rally continues.
At press time, XEC is buying and selling at $0.00004883 per coin. If the optimistic rally is maintained, XEC might surge previous the $0.00005357 resistance degree earlier than the tip of the day.
Nonetheless, the second main resistance degree at $0.00006362 ought to show tough for XEC except it will get help from the broader cryptocurrency market.