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The cryptocurrency market has carried out poorly thus far at this time, however XEC is the greatest performer amongst the prime 100 cryptocurrencies.
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XEC, the native token of the eCash ecosystem, is the greatest performer amongst the prime 100 cryptocurrencies at this time. The coin has rallied by more than 30% over the final 24 hours, outperforming the broader market in the course of.
The broader cryptocurrency market has been underperforming in the final two weeks. The market has misplaced more than 1% of its worth thus far at this time, with the complete market cap now beneath the $1 trillion mark as soon as once more.
Bitcoin has dropped beneath $20k for the first time this month. At press time, BTC is buying and selling at $19,813, down by more than 1% thus far at this time. Ether has additionally misplaced its support above the $1,500 stage and is now buying and selling at $1,449 per coin.
XEC’s rally comes after the improvement group announced that the Avalanche Post-Consensus would go dwell on the eCash Mainnet on Sept 14th.
According to the group, Post-Consensus brings 51% assault prevention which will increase the safety of the community considerably, bringing it on par with main Proof-of-Work chains. It additionally brings 1-block finality to eCash, which opens the door for exchanges to allow 1 affirmation deposit.
Key ranges to observe
The XEC/USDT 4-hour chart is extraordinarily bullish as eCash is performing excellently amidst a bearish run from the broader market.
The MACD line jumped into the constructive zone on Sunday and continues to stay inside that territory, indicating bullish momentum. The 14-day RSI of 74 exhibits that XEC may enter the overbought area if the rally continues.
At press time, XEC is buying and selling at $0.00004883 per coin. If the constructive rally is maintained, XEC may surge previous the $0.00005357 resistance stage earlier than the finish of the day.
However, the second main resistance stage at $0.00006362 ought to show troublesome for XEC except it will get support from the broader cryptocurrency market.
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