XDC Network price analysis

XDC Network (XDC) has pulled back to the 20-day EMA ($0.062), which is an important support to watch out for.

XDC/USDT daily chart. Source: TradingView

The 20-day EMA is flattening out and the RSI is just above the midpoint, indicating that the bullish momentum may be weakening. If buyers want to gain control, they will have to propel the price above the overhead resistance at $0.073. That could start an up-move to $0.082.

On the contrary, a break and close below the 20-day EMA could sink the pair to the 61.8% Fibonacci retracement level of $0.056. Such a move could delay the start of the next leg of the uptrend.

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