The July-August recovery rally in XDC/USDT price marked a local top at $0.0365. This bull run accounted for a 64% growth from the June 30th low of $0.022. However, with the recent sell-off in the crypto market, altcoin reverted from the mentioned resistance and triggered a bearish pullback. So should you grab this dip opportunity? Key Points: The cup and handle pattern governs the XDC price action. The 50-day SMA flipped to a viable support level. With a market cap of $318.7 million, the intraday trading volume of XDC has dropped by 21.4% to reach $8.696 million. Source – Tradingview XDC Technical Analysis The V-top reversal from $0.0365 resistance tumbled the prices by 22.8%, hitting the combined support zone of $0.028 and 0.618 Fibonacci retracements. On August 23rd, the XDC price witnessed a significant inflow resulting in an 18% price jump. The massive bullish candle breached the immediate resistance of $0.0312, suggesting the continuation of the prevailing recovery. However, today the coin is 7.5% down, and testing pierced resistance is for suitable support. If the daily candle managed a closing above the $0.0312 mark, the buyers should drive the altcoin 17% higher to hit $0.036 resistance. Another theory to support this rally is forming a cup and handle pattern. This reversal pattern is often spotted at market bottoms and ignites a significant recovery if market sentiment favors it. Thus, under this pattern’s influence, ...
