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

27 May, 2021

By Domenic

Domenic

Contributor

Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship.

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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.

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

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.