Key Takeaways
XDC closed 2024 on a bullish note, reaching the yearly high in December before falling slightly. 2025 is off to a strong start, with XDC rallying 68% and creating consecutive bullish weekly candlesticks.
More importantly, XDC is closing above the final horizontal and Fibonacci resistance before the all-time high. Does this mean the price will continue its ascent in 2025 until it breaks its previous highs? Let’s find out.
In November 2024, XDC created five successive bullish weekly candlesticks, culminating in a new yearly high of $0.106. The upward movement caused a breakout above the $0.070 horizontal resistance area, which has existed since the start of 2022.
The breakout indicated that XDC had started an upward movement, confirmed by a retest of the $0,070 area in the final week of 2024 (white icon). The ensuing bounce sparked another upward movement, leading to an XDC price high of $0.116 today.
An important development in the ongoing increase is that XDC is breaking out from the $0.109 area, which is a horizontal and Fibonacci resistance.
If XDC closes above the area, there will be no more resistance until the all-time high of $0.196, an increase of 70% from the current price.
Technical indicators do not show any weakness. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing. The RSI is above 70, while the MACD is positive. While a bearish divergence could be brewing in the former, it has not been confirmed yet and could be invalidated if the ascent continues.
So, the weekly time frame suggests that XDC could continue increasing until it reaches a new all-time high. Let’s look at the wave count and see if it corroborates this bullish XDC prediction.
The chart from the daily time frame gives a similar bullish XDC prediction. The price broke out from a descending resistance trend line and then confidently closed above the final horizontal resistance at $0.100. So, the short-term breakout is valid.
However, the wave count suggests that XDC is in wave five, which is the final portion of its long-term upward movement. The first target range for the top of the increase is between $0.165 and $0.180.
The area is created by giving wave five 0.382 times the length of waves one and three (white) and by the 2.61 external Fibonacci retracement of wave four (black). This would not represent a new all-time high.
However, if wave five extends to 0.618 times the length of waves one and three, the XDC price will reach a new all-time high of $0.227. As a result, the XDC prediction is bullish, and the price might reach a new all-time high soon.
XDC shows strength in multiple time frames by breaking out from key long—and short-term resistances.
The wave count suggests the price is in the final portion of its upward movement, with an initial target between $0.165 and $0.180. Because of the lack of overhead resistance, the upward movement will likely be swift.