XEND Price Analysis: XEND Finance Stuck Within Descending Channel But Eyes $0.60

By Domenic
Published May 27, 2021 Updated May 27, 2021
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XEND Price Analysis: XEND Finance Stuck Within Descending Channel But Eyes $0.60

By Domenic
Published May 27, 2021 Updated May 27, 2021

XEND finance has been hit hard the last few weeks along with the rest of the market. Overall, the cryptocurrency market has fallen on average around 50% from all time highs. XEND is a newly released coin and has not shown its potential just yet. XEND aims to tackle an important industry, specializing in DEFI regarding borrowing and lending. XEND also has big names such as Binance and Google backing it and will sure have a strong revival once the market stabilizes. 

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XEND has been stuck within a 2 month long descending channel. The bottom trend of its channel along with the major support of $0.363 has held the price of XEND thus far. As long as XEND continues to stay over the $0.40 mark, expect a push to around $0.60 minimum. 

XEND Price Analysis: XEND/USD 4 Hour Chart

The 30 MA has acted as resistance for the month of May. XEND must break & hold this mark to continue higher to its top trend line. The 30MA is also met with a major resistance mark of $0.47. XEND must break and hold these two marks for a clear path to $0.60.

While looking at the Stoch RSI, we can conclude it is hanging out in overbought territory. This is a good sign as long as it stays above the 80 value. The regular RSI has just broken a week long trend line. As long as XEND continues to stay above this trend, $0.60 is imminent. 

XEND Intraday Levels

  • Spot rate: $0.44
  • Trend: Bearish 
  • Volatility: High
  • Support: $0.40
  • Resistance: $0.471
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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.
About Author
Domenic
134 Articles
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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