XEC is up by more than 30% on Monday: Here is why

The cryptocurrency market has performed poorly so far today, but XEC is the best performer amongst the top 100 cryptocurrencies. 


XEC, the native token of the eCash ecosystem, is the best performer amongst the top 100 cryptocurrencies today. The coin has rallied by more than 30% over the last 24 hours, outperforming the broader market in the process. 

The broader cryptocurrency market has been underperforming in the last two weeks. The market has lost more than 1% of its value so far today, with the total market cap now below the $1 trillion mark once again.

Bitcoin has dropped below $20k for the first time this month. At press time, BTC is trading at $19,813, down by more than 1% so far today. Ether has also lost its support above the $1,500 level and is now trading at $1,449 per coin.

XEC’s rally comes after the development team announced that the Avalanche Post-Consensus would go live on the eCash Mainnet on Sept 14th.

According to the team, Post-Consensus brings 51% attack prevention which increases the security of the network significantly, bringing it on par with leading Proof-of-Work chains. It also brings 1-block finality to eCash, which opens the door for exchanges to enable 1 confirmation deposit.

Key levels to watch

The XEC/USDT 4-hour chart is extremely bullish as eCash is performing excellently amidst a bearish run from the broader market.

The MACD line jumped into the positive zone on Sunday and continues to remain within that territory, indicating bullish momentum. The 14-day RSI of 74 shows that XEC could enter the overbought region if the rally continues.

At press time, XEC is trading at $0.00004883 per coin. If the positive rally is maintained, XEC could surge past the $0.00005357 resistance level before the end of the day. 

However, the second major resistance level at $0.00006362 should prove difficult for XEC unless it gets support from the broader cryptocurrency market. 

All Dutch and English crypto news!

Korean police reportedly arrest first person involved in Terra collapse

After months of investigation without any single arrest and the main offender on the run teasing the enforcers on Twitter, South Korean police have reportedly...

Bitcoin fails to move towards the $21,368 resistance level: Will it dip soon?

Bitcoin has performed well over the last few days but has failed to surge past the resistance level above $21k. Bitcoin, the world's leading cryptocurrency, has...

Most cryptocurrencies are securities, says SEC’S Gary Gensler

Gary Gensler believes that most cryptocurrencies are securities and wants the SEC to regulate the market.   Gary Gensler, the Chairman of the United States Securities and...

BTC to outperform ‘most major assets’ in H2 2022 — Bloomberg analyst

Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated October has historically been the best month for Bitcoin (BTC) since 2014, averaging gains of about...

Beste exchanges

Koop je crypto bij Bitvavo