For the first time after its launch in October end, the X Empire price followed an uptrend, but there is more to the story. This token has just achieved an ATH at $0.0002165, surprising its holders, who witnessed its severe downtrend right after its launch.
Despite the heavy popularity of the X Empire game, its native token struggled severely on the charts. More importantly, it followed the HMSTR price pattern, which also plummeted heavily right after its launch. However, HMSTR has been on the move vertically for the past few days. With this, the users are curious whether this is just the beginning of a long uptrend or it is all, as it has disappointed them before.
How X Empire Price Soared To New ATH?
The X Empire token was launched on October 24 with high anticipation of the price attempting a rally to $1. However, the user’s disappointment with the airdrop allocation and actual airdrop process led to heavy volatility, causing the token to collapse to a low of $0.00003315 on November 3 after an 11-day-long downtrend.
However, the token has made a 180-degree turn, gaining an ATH of $0.0002165 after an almost 350% surge over the week. More importantly, it gained 115% in the last 24 hours and is slowly moving down the ATH peak, currently valued at $0.0001962. Today, its trading volume is up at $477.52M after a 230% surge, which indicates that the users are returning to the token.
This ongoing X Empire price rally began with KuCoin launching the X Empire staking feature with a 4% reward. The token had already gained multiple exchange listings, and Kucoin’s X Coin feature pushed its demand higher. Not to forget, the US election results also played an important role in the rally.
On November 6, Donald Trump won the US election, igniting a crypto market rally. The bulls are now driving the market, where most cryptos are meeting new gains. With this, the Bitcoin price hit the ATH, but the analysts still anticipated a much bigger rally to $100K. After this anticipation and users’ bullish sentiments, the X Empire price has gained its deserving bullish push.
Will It Keep Rising?
Considering the crypto market’s bullish nature and investors’ greedy sentiments, there is a high possibility that the X Empire price may continue to rise. However, considering its past performance, there are doubts that the sellers may flip the boat, leading to a consolidation after this high.
However, considering the breakout from the falling wedge pattern, the uptrend is likely to continue. More importantly, there is strong buying pressure on the token per technical indicator. Here, the RSI is at 74.84423685, in the neutral zone, which indicates the continuation of the ongoing trend. Moreover, the simple and exponential moving averages and the Momentum indicate the same. As a result, there is a high possibility that the trend might continue, especially if it crosses the resistance at 0.0002241.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: