The cryptocurrency market has carried out poorly to date at the moment, however XEC is one of the best performer amongst the highest 100 cryptocurrencies.
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XEC, the native token of the eCash ecosystem, is one of the best performer amongst the highest 100 cryptocurrencies at the moment. 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 the moment, with the overall market cap now beneath the $1 trillion mark as soon as once more.
Bitcoin has dropped beneath $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 the moment. Ether has additionally misplaced its assist above the $1,500 stage and is now buying and selling at $1,449 per coin.
XEC’s rally comes after the event workforce announced that the Avalanche Put up-Consensus would go dwell on the eCash Mainnet on Sept 14th.
In keeping with the workforce, Put up-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 exhibits 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 stage earlier than the top of the day.
Nonetheless, the second main resistance stage at $0.00006362 ought to show troublesome for XEC until it will get assist from the broader cryptocurrency market.