This article will analyze the XEC coin according to coinmarketcap data. First, we will discuss the XEC coin and its projects and make a technical and graphic analysis. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is XEC Coin?
XEC (eXchangily) is a cryptocurrency that operates on its blockchain and aims to provide a decentralized exchange platform for trading digital assets. The XEC coin serves as the native token of the eXchangily platform and is used for various purposes, such as paying trading fees, staking, and participating in governance decisions.
What are the projects of XEC?
The main project of XEC coin is the eXchangily decentralized exchange (DEX), which allows users to trade cryptocurrencies in a trustless and transparent. The eXchangily platform also offers atomic swaps, limit and market orders, and margin trading features.
Other projects of XEC coin include the development of a blockchain-based gaming platform, NFT marketplaces, and cross-chain compatibility with other blockchains.
Factors Influencing XEC Price
Like any other cryptocurrency, the price of XEC coin is influenced by various factors such as market demand, adoption rate, technological developments, regulatory changes, and investor sentiment. For instance, upbeat news regarding the eXchangily platform or partnerships with other projects in the crypto space may increase the demand for XEC coins and drive up its price. On the other hand, negative news or regulatory crackdowns may harm the cost of the XEC coin. Additionally, the overall market conditions of the cryptocurrency space can also affect the price of XEC coins.
XEC COIN TECHNICAL ANALYSIS
After seeing its historical peak of $0.00039178 in August 2021, ZEC entered a downtrend, experiencing a loss of approximately 94% until 2023, and regressed to $0.00002168. ZEC, which has been on the rise since the beginning of 2023, tried to stay above the $0.00003768 resistance but was unsuccessful. ZEC is currently trading at $0.00003119. According to coinmarketcap data, XEC, which has a size of $602,395,548, has had a volume of $6,617,793 in the last twenty-four hours.
XEC Chart Analysis
After seeing its highest value of $ 0.000391782 in August 2021, ZEC fell to $ 0.00002168 with a loss of 94% in a year and a half. When we examine the chart of ZEC, which is currently traded at $ 0.00003119, we see that its first targets are $ 0.00003768 and $ 0.00006428 as it stays above $ 0.00003768. As it continues to remain under the downtrend, the support is at $0.00002168.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.
