XDC Price Prediction & Long EntryPrice Prediction:
My friends
I caution you in advance. This price “prediction” is super speculative. Regardless, it reflects what may happen if the current trend repeats.
The Cup and Handle pattern timeframe is usually not more than six months. The principle behind the Cup and Handle is a parabolic move, correction, parabolic move. From this perspective, I think it also fits the pattern of a bull run, bear market correction, a recovery phase, and another bull run.
The proportions of XDC’s USD chart support a cup and handle only on the log chart.
I’m a TA. I don’t use Fundamentals.
Having said that, if XDC’s price comes close to my prediction, we’re looking at multiple Xs.
XDC/BTC
The XDC/BTC chart is also showing a Cup and Handle.
XDC broke through a diagonal resistance at 143 on July 18th, 2023.
XDC broke out of the range-high at 214 on July 30th.
If XDC flips the range high to support, it is good for continuation to 391, which is the ATH and the completion of the cup.
The final target for this pattern is 1367.
Remember, this is highly speculative. TA is an art, not a science. Some patterns succeed , others don't. We are driving forward while using the rear mirror for directions.
My Take:
I think that allocating some small part of my long-term portfolio to XDC is worth the risk.
Long Entry:
XDC is a bit oversold on the weekly and 3D timeframe. It had a very nice uptrend and now it is retracing some of these gains.
I will ladder into XDC beginning at the 0.382 fib at 0.0605 USDT. My preferred price for entry is at the 0.5 fib at 0.053 USDT.
Note, the RSI support is at the 40 level. I expect it will hold the 40 and continue up.
NFA.
What do you think? Please share in the comments.
Best Wishes.
