What happens now, XCAD has broken the bearish downtrend line?
Bullish Scenario: On a higher time frame, such as the daily(D), XCAD has broken the bearish downtrend line. It is now trading above the $3.6 support zone. If it remains above this zone and the $5.0 resistance level is broken, we could witness a move towards $5.6, $6.4, and much higher.
Bearish Scenario: We’re witnessing some early indicators of bullish momentum, but we can’t rule out the possibility of a bearish scenario. XCAD is still in a downtrend on higher time intervals, such as monthly(M). Failure to hold the $3.1 support level and a break below $2.4 could result in a slide to $1.6 and lower.
Bearish Scenario: We’re witnessing some early indicators of bullish momentum, but we can’t rule out the possibility of a bearish scenario. XCAD is still in a downtrend on higher time intervals, such as monthly(M). Failure to hold the $3.1 support level and a break below $2.4 could result in a slide to $1.6 and lower.
