XEC (eCash) has surged over 40% in the last 30 days, with gains of 14% in the last 24 hours, pushing trading volume up by 309% to $31.4 million. Technical analysis reveals a bullish chart pattern with horizontal resistance and ascending support, though the cryptocurrency is approaching a major resistance zone that could impede further growth. The MACD indicator has produced a bearish crossover and the Money Flow Index shows capital inflows declining sharply, signaling weakening demand. Despite bullish sentiment on social media and 904 posts about the altcoin, analysts warn that the combination of fading momentum and declining capital flows increases the risk of buyers becoming exhausted.
Source: Read the original article
