XDC jumps 11% as volume surges – Can it break $0.115 next?
Main Idea
XDC Network's price surged 11% with increased trading volume, but futures traders remain bearish, creating mixed signals for its potential to break the $0.115 resistance level.
Key Points
1. XDC Network briefly climbed 11.58% to $0.104, supported by a 48.99% spike in trading volume to $82.19 million.
2. Buyers showed renewed interest with three consecutive days of positive Buy-Sell Delta, but futures traders remained bearish with a Long/Short Ratio of 0.937.
3. Open Interest (OI) increased by 13.84% to $11.69 million, while Derivatives Volume surged 116.59% to $13.79 million.
4. XDC recorded a positive Spot Netflow for five consecutive days, signaling potential selling pressure despite the price rally.
5. Momentum indicators were mixed: Stochastic RSI showed a bullish crossover, but Relative Strength Index (RSI) weakened, suggesting uncertain buyer momentum.
Description
Buyers returned, but futures traders are shorting XDC. Here are the details!
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