Your weekly XDC chart shows a classic setup with Fibonacci retracement levels drawn from the all-time high to the macro low, and several key technical observations:
🔍 Key Observations:
1. Current Price:
• XDC is at $0.0612, sitting just above the 0.236 Fib level at ~$0.0652.
• This is a historically strong support zone, now being retested.
2. Cup and Handle Macro Structure:
• You’ve outlined a large cup and handle that spans from late 2021 through 2025.
• The handle appears to be forming now as a descending wedge—a typical bullish continuation pattern.
3. Volume:
• Weekly volume is declining during this correction, which is common in handle formation phases—not distribution.
4. MA Crosses:
• The 50/200 MA (orange and green) are converging, possibly aiming for a golden cross in the coming months if price holds or trends up.
• If confirmed, that would be a major bullish signal on the weekly chart.
5. Fib Extension Targets:
• 0.618 = $0.106
• 0.786 = $0.129
• 1.0 = $0.157
• 1.272 = $0.193
• 1.414 = $0.212
• 1.618 = $0.2396 ← golden extension target
⸻
📈 Interpretation:
• You’re likely in the handle completion phase, within a bullish wedge.
• Once this wedge is broken to the upside (likely above $0.074–0.076), it could trigger a breakout rally.
• Your first major resistance is $0.091 (0.5), but the true breakout threshold is $0.106 (0.618).
• RSI and volume confirmation will be key for timing the breakout.
⸻
🔮 What to Watch For:
Signal Bullish Trigger
Breakout of wedge Close above ~$0.076 with volume
Handle completion Weekly close above $0.085
Golden cross MA 50 crossing MA 200
Macro confirmation Break above $0.106 with momentum
🔍 Key Observations:
1. Current Price:
• XDC is at $0.0612, sitting just above the 0.236 Fib level at ~$0.0652.
• This is a historically strong support zone, now being retested.
2. Cup and Handle Macro Structure:
• You’ve outlined a large cup and handle that spans from late 2021 through 2025.
• The handle appears to be forming now as a descending wedge—a typical bullish continuation pattern.
3. Volume:
• Weekly volume is declining during this correction, which is common in handle formation phases—not distribution.
4. MA Crosses:
• The 50/200 MA (orange and green) are converging, possibly aiming for a golden cross in the coming months if price holds or trends up.
• If confirmed, that would be a major bullish signal on the weekly chart.
5. Fib Extension Targets:
• 0.618 = $0.106
• 0.786 = $0.129
• 1.0 = $0.157
• 1.272 = $0.193
• 1.414 = $0.212
• 1.618 = $0.2396 ← golden extension target
⸻
📈 Interpretation:
• You’re likely in the handle completion phase, within a bullish wedge.
• Once this wedge is broken to the upside (likely above $0.074–0.076), it could trigger a breakout rally.
• Your first major resistance is $0.091 (0.5), but the true breakout threshold is $0.106 (0.618).
• RSI and volume confirmation will be key for timing the breakout.
⸻
🔮 What to Watch For:
Signal Bullish Trigger
Breakout of wedge Close above ~$0.076 with volume
Handle completion Weekly close above $0.085
Golden cross MA 50 crossing MA 200
Macro confirmation Break above $0.106 with momentum
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.