TradeCityPro | XAIUSDT - Buying Opportunity for a New Coin
2024-11-22
Category: gaming

👋 Welcome to the  TradeCityPro  channel! Let's dive into XAI and analyze its technical structure, entry points, and potential scenarios.

🌍  Bitcoin’s Impact on Altcoins 
Bitcoin has set another new high since yesterday, attracting global attention.

Its dominance in the global financial system now surpasses major banks like JPMorgan Chase, Bank of America, and ICBC China.

However, Bitcoin's dominance has started to decline on lower timeframes, creating opportunities for altcoins to rise, as mentioned in our previous analysis.


🕒  Weekly Timeframe Analysis 

XAI has retraced nearly 90% from its ATH, typical for newly listed coins. These large corrections often result in the formation of accumulation boxes, where the price consolidates for an extended period.

With the current weekly candle nearing a breakout from the accumulation zone, there’s potential for an uptrend to begin. If this breakout fails, a stop-loss near 0.1680 can minimize losses.

Buy if the weekly candle closes above the current range , Set a stop-loss at 0.1680 for better risk management , Utilize XAI in DeFi platforms after a breakout for additional yield opportunities.

📆  Daily Timeframe Analysis 

XAI remains range-bound between 0.1699 and 0.2583, showing clear signs of accumulation.

Higher lows indicate buying strength and the absence of strong sellers.
Each test of resistance (0.2583) is accompanied by increased volume, signaling interest from buyers.

After breaking 0.2583, consider a spot buy with a stop-loss at 0.2142 for a riskier but calculated entry.


⏱  4-Hour Timeframe Analysis 

sharp upward move has brought the price close to 0.2497, where immediate resistance lies.

📈  Long Position: 
Buy after a confirmed breakout above 0.2497.
Watch for RSI to enter the overbought zone, as this often precedes sharp upward moves.

📉  Short Position: 
Avoid shorting. Instead, wait for corrections and look for long opportunities at lower entry points near 0.2102.


🔄  XAI/Bitcoin Pair Analysis 

The XAI/BTC pair shows a downtrend but with significant weakening momentum in recent times.

On lower timeframes, the pair may begin a new uptrend, which could result in faster and sharper moves in the XAI/USDT chart.

Break and confirm above 0.00000299 on the XAI/BTC chart to signal a stronger bullish move.


📝  Final Thoughts 

XAI is showing promising signs of an impending breakout on multiple timeframes. Monitor key levels closely and manage risk with appropriate stop-loss settings.

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️