XEND Token Analysis: WETH/XEND Breaks Long Term Trend As Market Continues Sell Off

Published May 22, 2021 | Updated May 22, 2021

XEND Token Analysis: WETH/XEND Breaks Long Term Trend As Market Continues Sell Off

XEND had risen nearly 700% since its release a few months back. XEND has fallen with the rest of the cryptocurrency market. Overall the market has taken a large blow but XEND has held decently well in % terms.

Major support of 4150 XEND to WETH has held the price of XEND thus far. When XEND broke its support of 4600 XEND to WETH, it also broke long term trend line. This is not the best sign for XEND. If 4150 XEND to WETH fails to hold, expect a fall to major support range of 3500-3700 XEND Tokens to WETH.

XEND Token Analysis: XEND/WETH 4 Hour Chart

For XEND to continue its uptrend, it must break and hold 4583 XEND to WETH. At the time of writing, the next resistance also lines up with its long term trend line. If XEND manages to hold its 200MA and break these two marks, it will be in good position to revive back near ATH.

While looking at the Stochastic RSI, we can see it has been stuck in oversold levels. The longer this stays down, the more chance XEND has another leg down. The regular RSI is dangling near oversold levels and a break under will result in a drop to next support level.

XEND intraday levels

  • Spot rate: 4150 XEND to WETH
  • Trend: Bearish
  • Volatility: High
  • Support: 4150 XEND to WETH
  • Resistance: 4583 XEND to WETH

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship. He saw the vision to become an entrepreneur and wanted to achieve success from a young age. Domenic owned & operated a car detailing business since the age of 16, along with being a part of two CBD businesses through 2018 & 2019. He started his investment and trading career early trading in 2017 when he bought a newly released cryptocurrency alt-coin and saw 10x return in a few months. He then realized there was much potential and dove head first into learning everything he could. He became very passionate about technical analysis and knew it was his route to financial freedom. Over the last 4 years, Domenic has shared his analysis with many groups and received amazing feedback. Shortly after he wanted to help assist in the pursuit of spreading and helping others achieve success in the trading industry.
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