The July-August recovery rally in XDC/USDT price marked a local top at $0.0365. This bull run accounted for a 64% growth from the June 30th low of $0.022. However, with the recent sell-off in the crypto market, <a href="https://www.cryptoknowmics.com/news/this-weeks-altcoins-ranking-here-are-the-top-5/" target="_blank" rel="noopener">altcoin</a> reverted from the mentioned resistance and triggered a bearish pullback. So should you grab this dip opportunity?
<h3>Key Points:</h3>
<ul>
 	<li>The cup and handle pattern governs the XDC price action.</li>
 	<li>The 50-day SMA flipped to a viable support level.</li>
 	<li>With a market cap of $318.7 million, the intraday trading volume of XDC has dropped by 21.4% to reach $8.696 million.</li>
</ul>
<img src="https://s3.tradingview.com/snapshots/r/rdGGjnya.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/rdGGjnya/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>XDC Technical Analysis</h2>
The V-top reversal from $0.0365 resistance tumbled the prices by 22.8%, hitting the combined support zone of $0.028 and 0.618 Fibonacci retracements. On August 23rd, the XDC price witnessed a significant inflow resulting in an 18% price jump.

The massive bullish candle breached the immediate resistance of $0.0312, suggesting the continuation of the prevailing recovery. However, today the coin is 7.5% down, and testing pierced resistance is for suitable support. If the daily candle managed a closing above the $0.0312 mark, the buyers should drive the altcoin 17% higher to hit $0.036 resistance.

Another theory to support this rally is forming a cup and handle pattern. This reversal pattern is often spotted at market bottoms and ignites a significant recovery if market sentiment favors it.

Thus, under this pattern's influence, the XDC price should poke through the prior swing high of $0.0365 and offer a 32% growth potential to the $0.48 mark.
<h2>Technical Indicators</h2>
The RSI indicator failed to sustain above the neutral line, indicating the market sentiment is still weak.

The breakout candle even reclaimed the 50-and-100-day SMA, providing some extra edge for coin buyers. Thus, the 50 SMA wavering around the $0.0312 mark assists traders in giving different footing for price recovery.

Resistance Levels: $0.0312 and $0.034

Support Levels: $0.028 and $0.026

XDC Price Trend Sustains Bullish Hope Despite A Drastic Fall

According to the technical analysis, the XDC price breakout from $0.0312 resistance hints the buyers are wrestling for trend control.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

XDC Price Trend Sustains Bullish Hope Despite A Drastic Fall

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