XDCUSD About to break above the 1D MA50. Bullish.

The XinFin Network (XDCUSD) is on a noticable rise today after it held the previous days and rebounded on both the 1W MA50 (red trend-line) and 1D MA200 (orange trend-line). The Fibonacci Channel levels gives us a better understanding of the Support and Resistance levels involved during this uptrend since the December 07 2022 market bottom.

If the price closes a 1D candle above the 1D MA50 (blue trend-line) we may see a rally similar to mid March - April, since the MACD has just completed a Bullish Cross, the first since March 13. In that case, we will take this bullish break-out signal and target more comfortably first Resistance 1 (0.04545) and then the 2.0 Fibonacci extension and 1W MA100 (yellow trend-line) cluster at 0.05200.

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