eCash (XEC) Price Prediction: Is The Bull Run Over?

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eCash is down in the market today, trading at $0.00003694 in the last 24 hours. The asset’s price finally broke above the $0.00002 price level on January 23, 2023, at $0.00003028. 

Also, the last 30 days have been positive for the asset, with its 30-day high at $0.00004428 and its 30-day low at $0.00003424. Despite the current slump, it has recorded progress in February 2023.

The eCash network was created to bring Decentralized Finance (DeFi) solutions to crypto users and to support Ethereum Virtual Machine (EVM) compatibility. The network aims to scale up transaction speed while reducing costs. The recent price gains are due to different factors on the eCash network.

eCash Network Updates Possibly Influencing Its Price Trend

Avalanche Post-Consensus A Game Changer For eCash 

Avalanche Pre-Consensus, was announced on the eCash network on January 30, 2023. This upgrade offers almost instant transaction finalization, where the transactions are irreversible once finalized.

Also, the Avalanche Pre-Consensus will validate each transaction before adding it to a block. It will reduce the confirmation time of a transaction from 10 minutes to just a few seconds, making it faster than Proof-of-Work reliant crypto like bitcoin. This is a new upgrade that will launch soon on the network.

Currently, the network operates on the Avalanche Post-Consensus to support the finalization of blocks. The post-Consensus upgrade provides 51% attack prevention on the eCash network. This is vital for miners since eCash shares the same SHA256 algorithm with Bitcoin (BTC).

With the Avalanche Post-Consensus, individual nodes form a consensus to finalize blocks on the network. If random or late blocks appear on the network in an attack, the miners will agree to ignore these attacks.

eCash node operators can activate Avalanche Post-Consensus on the network by upgrading to Bitcoin ABC 0.26.2 or a higher version. Also, node operators that wish to use Avalanche can set up their staking nodes and follow the Avalanche Staking Tutorial to understand how it works.

Electrum ABC Launches On The eCash Network

eCash has launched a new version of the custodial wallet Electrum ABC. This version has features such as multiple wallets, Avalanche tools, CashFusion, an address book, password encryption, and support for hardware wallets.

This wallet is fast, secure, and works on Windows, MacOS, and Linus devices. It also serves as a store of private keys and seed phrases for users to prevent loss. It confirms and verifies transactions on the blockchain without a centralized server.

Residents Of Morazan City, Honduras, Adopt eCash For Payments

Community Artists, the largest realtor in Ciudad Morazan, has decided to implement eCash and eLPS ( a native e-token) for payments. One of the reasons behind this is the cheaper cost of transactions. Transfers to a Honduran ACH bank command a $1.5% fee, while eCash transfers cost less.

It comes after the successful implementation of eCash at the Morazan Minimart. This change will help Morazan residents save more than 1% using digital currency rather than bank transfers to pay rent and other utility charges. Also, crypto inclusion in the financial system will create awareness among the population and boost eCash as a valuable asset.

XEC Price Prediction

XEC is trading in the red today, recording a slight pullback from its recent gains in the past week. The token is trading above its 50-day and 200-day Simple Moving Averages (SMAs), which is a bullish sentiment. 

eCash (XEC) Price Prediction: Is The Bull Run Over?
Source: Tradingview.com

However, the gravestone doji formation on the daily price chart signals the end of the current uptrend and a sign of a bearish reversal. The red candle formation today strengthens the bearish sentiment in the market.

The Relative Strength Index (RSI) is at 56.16, which is in the neutral zone. Also, the indicator is moving downwards, reflecting the bearish pressure and the possibility of a downtrend. XEC’s Moving Average Convergence/ Divergence (MACD) is just rising above its signal line and giving off a weak bullish signal. It implies that while the bears persist, the bulls can still regain control over the market. 

The support levels are $0.00003438, $0.00003608, and $0.00003745, and the resistance levels are $0.00004052, $0.00004222, and $0.00004359. XEC will likely resume its uptrend if it can pivot on the $0.00003745 support despite the current bearish trend. However, if the support fails, expect further price decline in the short term.

XEC Alternatives That Will Yield Cash

Cryptocurrencies are highly volatile and record frequent price changes. However, investors can gain from some presales to boost their investment portfolio. Here are some presales that can multiply your initial investments.

C+Charge

C+Charge has created a model for the efficient charging of electric vehicles (EVs) in a bio-friendly manner. This solution is powered by blockchain technology to make the process affordable and faster for EV users. Also, the platform offers analytics on the health status of these cars.

Users will access a mobile App to make the process more convenient. The presale is in its third stage, and the project will be live on March 31, 2023. The presale stages have realized $1.28 million, and each CCHG token is worth $0.016. The Next presale round will increase the value to $0.017.

Metropoly (METRO)

This is the first NFT marketplace for real estate backed by real-world properties. The innovative platform is gaining relevance and offers features like fractional ownership and real-time analytics.

Users can invest in real estate and properties worldwide with an affordable minimum deposit. METRO, the native token, is currently on its presale and has raised over $526.

Fight Out (FGHT) – Newest Move to Earn Project

Fight Out token
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  • Early Stage Presale Live Now
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