eCash Price Prediction 2024: XEC Price Analysis

Key Takeaways

• eCash has underperformed for the majority of 2024.
• XEC was delisted by Bitfinex in November.
• Our eCash price prediction says the coin can reach $0.000038 next year. 

Bitcoin (BTC) spin-off eCash rose in 2023 but performed worse than the market average.

The crypto’s supporters will be hoping that it can improve its performance.

Meanwhile, investors in a series of cryptos delisted by Binance will be watching how XEC performed after it was delisted  by Bitfinex in November last year.

Although the price of XEC has struggled over the last couple of months, it remains within the top 100 cryptos by market cap.

On Sept. 19, 2024, eCash was worth approximately $0.0000318.

Let’s examine some of the eCash price predictions we made at CCN on Sept. 19, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

eCash Price Prediction

The eCash price predictions will use the wave count method to predict its future movement. 

We will add and remove 20% from the target price to provide a range of possible outcomes, resulting in minimum and maximum XEC price predictions.

The most likely wave count suggests that XEC started an A-B-C corrective structure in June 2023. If this is the case, it completed wave B in July and has now started wave C.

Giving waves A:C the same length and duration leads to a high of $0.000112 in April 2025. 

Then, we can project a decline similar to the one after the September 2021 all-time high.

During these projected upward and downward movements, the wave count gives the XEC price predictions of $0.000048 and $0.000032 for the end of 2024 and 2025, respectively.

Finally, we will use the daily rate of increase since launch to develop an XEC prediction for the end of 2030. 

In the 1,158 days since its launch, XEC has increased by 90% for a daily rate of 0.07%.

Projecting this increase until the end of 2030 leads to a target of $0.000084.

XEC Price Prediction for 2024

The wave count price prediction gives an XEC price prediction range of $0.000039 to $0.000057 for the end of 2024.

XEC Price Prediction for 2025

The wave count price prediction gives an XEC price prediction range of $0.000026 to $0.000038 for the end of 2025.

XEC Price Prediction for 2030

Using the daily rate of increase since launch, we arrive at an XEC price prediction range of $0.000068 to $0.000100.

eCash Price Analysis

The daily time frame XEC price chart shows a decline under a descending resistance trend line since April. 

So far, XEC has made five unsuccessful breakout attempts and is making the sixth one. 

Since resistances weaken each time they are touched, the XEC price will likely break out. 

If this happens, the next resistance will be at $0.000042. 

Short-Term XEC Price Prediction

The XEC price prediction for the next 24 hours hinges on a breakout from the descending resistance trend line. 

XEC will gradually increase toward the $0.000042 resistance area if this happens.

eCash Average True Range (ATR): XEC Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On Sept. 19, 2024, eCash’s ATR was 0.00000021, suggesting low volatility.

eCash Relative Strength Index (RSI): Is XEC Overbought or Oversold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On Sept. 19, 2024, the eCash RSI was at 66, indicating bullish but not yet overbought conditions.

eCash Price Performance Comparisons

XEC is one of many cryptos that evolved from Bitcoin, so let’s compare it to BTC and some of its more notable spinoffs.

Best Days and Months to Buy eCash

We looked at the Bitcoin price history and found the best times to buy XEC.

eCash Price History

Let’s now examine some of the key dates in the eCash price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can give us some very useful context when making or interpreting an eCash price prediction.

eCash Market Cap

The market capitalization, or market cap, is the sum of the total number of BTC in circulation multiplied by its price. On Sept. 19, 2024, Bitcoin’s market cap was $628 million, making it the 96th-largest crypto by that metric.

eCash Supply and Distribution Fact Box

From the eCash Whitepaper

In its technical documentation, or whitepaper , eCash says that it “utilizes the Avalanche consensus protocol to provide faster and more reliable transactions. This protocol allows for quick finality and low-latency confirmation times, addressing the scalability issues faced by Bitcoin.”

eCash (XEC) Explained

The eCash  blockchain, not to be confused with Ecash, the proto-crypto that was created by scientist David Chaum in 1983, is a spin-off from the Bitcoin Cash blockchain, which was, itself, the result of a split from Bitcoin.

The coin, which goes by the ticker handle XEC, aims to serve as an alternative currency.  This makes it similar to the likes of BTC and BCH. The platform was originally known as Bitcoin Cash ABC, but rebranded in 2021 to differentiate itself from BCH.

How eCash Works

The eCash network is a Proof-of-Stake (PoS) blockchain. People are chosen to verify transactions and add blocks to the blockchain based on how much XEC they hold. This makes it somewhat different from Bitcoin and many of its spin-offs, which use the Proof-of-Work consensus mechanism.

eCash uses a form of PoS called Avalanche, which is not the Avalanche (AVAX) blockchain.  Instead, it helps the platform cope with increased traffic levels.  

Again, like cryptos like Bitcoin and BCH, XEC is designed as a method of exchange. It can be bought, sold, and traded on exchanges.

Is eCash a Good Investment?

It is hard to say. The price spiked in late June and early July 2023. While this led to a sustainable price level, this went away when the market fell in August. Its recent performance has been encouraging but we don’t know how long it will last. 

A coin that is based on Bitcoin but uses PoS to secure its blockchain is intriguing, but there are issues with eCash.

Firstly, it does not appear to have a whitepaper. This is a technical document that explains how eCash works, or what it does precisely. While there is some information available on the blockchain’s website, the lack of a precise technical document could put potential investors off.

Secondly, although eCash’s low value is designed to make it easier to send large sums internationally, those who are maybe not as au fait with how cryptos work could look at it worth fractions of a cent and decide to take their money elsewhere, limiting its future growth.

Nevertheless, eCash has shown some potential over the years it has been in operation. Its recent spell of good form could draw people to it. In turn, this could eventually set up a user base that gives it more real-world utility.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in XEC.

Will eCash go up or down?

No one can really tell right now. While the eCash crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in eCash?

Before you decide whether or not to invest in eCash, you will have to do your own research, not only on XEC, but on other, related, coins and tokens such as Bitcoin Cash (BCH) or Bitcoin SV (BSV). You will also need to make sure that you never invest more money than you can afford to lose.

Technical analysis by Valdrin Tahiri.

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Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

About the Author

Peter Henn

Peter Henn has been a journalist since 2005. In that time, he has written for a variety of publishers including the Mail on Sunday and the Daily Express. He has previously covered the world of cryptocurrency for Currency.com and Capital.com, and has also written for ECigIntelligence.com and CBD-Intel.com. A graduate of the University of Liverpool, he is based in the United Kingdom. His hobbies include music, horse racing and performance art.

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