Since September 8th, Xinfin Network’s price has been in an aggressive bullish trend, which has seen its value surge by 30 per cent. However, in the past two trading sessions, XinFin has been trending downwards, with yesterday’s session dropping 2 per cent.
Today, the prices have not moved much, and the price gain is less than 0.1 per cent at press time. However, based on the previous two trading sessions, there is a high likelihood that we might see XinFin Network’s price resuming the bearish trend and closing below the opening price by more than a percentage point.
The XinFin Network gained after its launch due to its promise of scalability, which included increasing its transactions per second to compete with services such as Visa and Mastercard. Today, it is one of the largest cryptocurrencies, with a market capitalization of more than $390 million. It is also ranked as the 86th largest cryptocurrency by market capitalization and averages more than $3.5 million daily trading volume.
XinFin Network Price Prediction
Looking at the chart below, it is clear that the price action of the past few trading sessions has been bearish. It is also clear that, despite today’s trading session recording a price gain of less than 0.1 per cent, the prices are likely to continue with the bearish trend.
However, the long-term trend of XinFin Network price for more than a month has been to the upside, and I expect the trend to continue in the next few trading sessions. There is a high likelihood that we might see prices breaking the recent price high of $0.33 price level.
For the long term, I expect to see XinFin Network’s price surging and hitting the $0.037 resistance level and possibly trading above it. A trade below the $0.030 price level will invalidate my bullish analysis and signal a long-term bear move.