XDC (XDC Network) rose 5.48% in the last 24 hours.

Gate News Bot news, on July 16, according to CoinMarketCap data, as of the time of writing, XDC (XDC Network) is currently priced at 0.08 USD, with a rise of 5.48% in the last 24 hours, reaching a high of 0.08 USD and a low of 0.07 USD. The current market capitalization is approximately 1.268 billion USD, an increase of 6.59 million USD compared to yesterday.

XDC Network is a decentralized smart contract platform aimed at providing efficient and secure blockchain solutions. The network focuses on building a developer ecosystem, offering comprehensive development tools and documentation support. XDC Network also boasts a rich ecosystem of dApps, as well as an active community and partner network.

Important news about XDC recently:

1️⃣ XDC price has maintained a pump for seven consecutive days The price of XDC has been continuously rising over the past seven days, demonstrating strong market demand. On Tuesday, XDC rose nearly 2% again, further solidifying its upward trend. This sustained rise indicates that investor confidence in the XDC Network is strengthening.

2️⃣ XDC approaches key resistance level of $0.067 The current price of XDC is close to the 200-day exponential moving average and approaching the important resistance level of $0.067. This level was tested on June 11, and if it can break through successfully, it may open up greater rise potential for XDC. Breaking through this key resistance level will be an important observation point for XDC's short-term trend.

3️⃣ The technical indicators show a double bottom pattern, with a potential rise of up to 14% The price trend of XDC shows a double bottom pattern, with the neckline at $0.067 and the baseline at $0.057. If the price can effectively break through the neckline, the theoretical rise could reach 14%, with a target price of approximately $0.077. This technical pattern provides a clear upward target for XDC, but investors still need to closely monitor the actual breakout situation.

From a technical perspective, multiple indicators show that the rise momentum of XDC is strengthening. The Moving Average Convergence Divergence (MACD) indicator shows that both the MACD line and the signal line are on an upward trend and have crossed the zero line. At the same time, the Relative Strength Index (RSI) has reached 68, close to the overbought area, indicating that buying pressure is accumulating. However, investors should also note that if XDC fails to break through the 200-day moving average, it may lead to a pullback to around the 50-day moving average level of $0.062.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.