XEN crypto surges 75% within a day: Key levels to watch

  • XEN crypto holders and traders must approach the market in vastly different ways.
  • Key levels overhead were visible for traders, but holders must strap in for a longer ride.

As a seasoned analyst with over two decades of experience in the crypto market, I have seen countless bull and bear cycles, and learned to navigate through them with patience and caution. The recent breakout by XEN crypto is intriguing, and it’s reminiscent of the altcoin rallies we witnessed during the 2017-2018 bull run.


Over the last 36 hours, the digital currency known as XEN has surged, escaping a prolonged consolidation phase. Notably, on Thursday, November 14th, the daily trading volume nearly doubled, propelling XEN past a resistance level that hadn’t been breached in four months at approximately $0.118 (for clarity, this value is multiplied by one million).

This cryptocurrency is traded on lesser-known platforms and hasn’t been added to the roster of prominent exchanges like Binance, Coinbase, or Bybit yet.

In essence, this situation provides holders with some optimism about the future, as a listing might bring additional benefits like increased visibility and potential price increases. The recent surge in activity and high trading volumes might signal the start of a significant price increase trend.

XEN passes beyond one five-month resistance, challenges another

Since late June, the levels at $0.118 and $0.154 have played a crucial role. In the last five months, these levels were transformed into resistance points. Regardless of numerous attempts, the bears have persistently held the $0.118 level up until November.

In simpler terms, the heavy buying activity and optimistic outlook among traders have been pushing up the price of XEN cryptocurrency. Currently, the price of $0.154 is being challenged. The Relative Strength Index (RSI) stands at 65, indicating a strong upward trend on the daily chart.

As a researcher, I’ve observed that at the current moment, there hasn’t been a bearish divergence yet. Moreover, the token is currently valued at $18.74 million in its fully diluted form. In both bull and bear markets, particularly during Bitcoin‘s swift rallies, these low-capitalization tokens often experience significant value increases.

Consequently, it’s important for holders to consider their circumstances thoughtfully. Are they comfortable taking the risk of holding on in hopes of greater returns, or would they prefer to realize their profits and move forward without looking back?

The Bitcoin dominance chart was in a strong uptrend. This weekly timeframe outlook showed that the crucial 60% threshold was flipped to support.

Realistic or not, here’s XEN’s market cap in BTC’s terms

Previously, the last significant altcoin surge occurred in January 2021 and continued until November following a drop in BTC.D from 60.4% to 39.66%. It might be wise for holders to anticipate a similar decline in BTC.D before considering selling their XEN cryptocurrency.

Read More

2024-11-16 09:11