X.com (X) Price Sees Decline as Volatility Rises
The price of X.com (X) has dropped by 0.5% in the past 24 hours, showing increased volatility in the last week. If the token fails to rally, it could erase all the gains it made since the beginning of the month.
On September 4, X experienced a strong bullish trend, reaching a 7-day high of $0.162 and coming close to a new all-time high. However, this upward movement was short-lived, and profit takers began selling, causing the price to decrease. Despite this bearish momentum, X is still up 48% in the past two weeks.
The recent price action of X indicates that it is a highly speculative token, with buyer and seller activity driving its price. Trading volumes for X have decreased by 38% in the past 24 hours, suggesting that volatility may decrease.
X.Com Struggles to Reach New All-Time High
The price movement of X.com (X) from mid-August to the present demonstrates significant volatility. On August 15, the price reached an all-time high of $0.0168, but shortly after, it dropped to $0.061, almost reaching an all-time low.
Buyers were attracted to the low price, leading to a green candle on August 25 as the price increased to $0.082. The price continued to rise steadily, reaching $0.095 by August 27. On September 1, a bullish streak began, and by September 4, the price had reached $0.15. However, a false breakout caused a swift correction, preventing X from surpassing this resistance level and reaching new highs.
The failure to break past the resistance triggered selling, resulting in a drop from $0.15 to $0.09 on September 7. The price still shows a bearish momentum with a red candle.
Bears Control X.Com’s Price Movement
X.com (X) is currently at a critical level of $0.09, and if it fails to hold this level, the price could drop to the support level of $0.08. The Moving Average Convergence Divergence (MACD) line indicates a bearish flag, with negative momentum shown by the MACD line and its histogram bars on the negative side.
If bulls do not regain control, the price of X could decline further to $0.06. The Relative Strength Index (RSI) level of 35 suggests selling activity and potential declines. The RSI is flattening, signaling a neutral momentum.
Hot Take
X.com (X) has experienced increased volatility and a decline in price. The failure to reach a new all-time high and the bearish momentum indicate that bears are currently in control. It is crucial for X to hold key support levels to avoid further price drops. The team behind X.com, now known as Crux Decussata, is focusing on community growth and engagement to enhance the project’s presence. Additionally, X.com has secured a new exchange listing, which could impact its value. With 18 days remaining before the Wall Street Memes presale closes, the project aims to empower its community and achieve a $1 billion market capitalization.
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