XDC Network token currently stands at a critical juncture that could determine its price trajectory. According to crypto analyst Leo Naf, the token has entered what he describes as a “determination phase.” This is the point where the market will decide between a bullish or bearish direction in the mid-term.
Naf noted in an analysis posted on X:
“XDC chart is now in determination phase of bullish or bearish in mid term. A new ATH will make $XDC bullish. Permanent closes under red box will be bearish,”
Looking at the XDC/USDT 4-hour chart, we can see that XDC has been riding a strong uptrend since October. The token reached peaks around 0.15 USDT before experiencing a pullback to its current price of 0.07871 USD. The price is now consolidating within a crucial support zone between 0.075 and 0.085 USD, marked as a red box on the chart.
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Key Level to Watch for XDC Price
This support zone appears significant as multiple “Buy” signals have emerged near this level. This suggests that traders view this area as an important accumulation opportunity. It’s worth noting that XDC experienced a steep drop in February, but quickly recovered within this same red zone, further confirming its importance.
The technical indicators present a mixed but potentially promising picture. The price is currently interacting with various moving averages, which could signal the formation of a new trend direction. Meanwhile, the RSI and Stochastic indicators have shown considerable volatility, yet they’re displaying potential reversals from oversold and overbought regions.
Additional technical tools, including the Ichimoku Cloud and various trendlines, indicate price compression – a situation that often precedes a significant breakout in either direction.
Two Possible Scenarios for XDC Price
The market now faces two clear scenarios. In the bullish case, if XDC manages to hold above the critical support level, we could see a new push to the last local high at around $0.15 and beyond.
Read Also: Litecoin (LTC) Price Eyes Breakout: Watch This Key Level for a Major Rally
Conversely, if the price consistently closes below the 0.075 USD support level, it would signal a shift toward a bearish market structure, potentially leading to further declines.
Currently, XDC appears to be in a neutral to slightly bullish consolidation phase, with buyers actively defending the red support zone. If this support holds and prices bounce, we might see another attempt at reaching new highs. However, a definitive break below this zone could trigger additional selling pressure.
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