As a seasoned crypto investor with scars from past bear markets still fresh on my battle-worn skin, I must admit that the recent surge of X Empire’s price has caught me off guard. After witnessing its turbulent launch and subsequent downtrend, I found myself doubting its potential – much like the skepticism I harbored towards certain relationships in my life (looking at you, ex-significant other from 2017).
Initially following a rise since its October debut, the X Empire’s price trajectory took a turn for the unexpected. In fact, this digital token has recently hit an all-time high at $0.0002165, leaving its owners in awe, as they had just experienced a steep downtrend immediately post-launch.
Contrary to the massive popularity of the X Empire game, its in-game token faced significant difficulties on financial charts. What’s more striking is that it mirrored the downward trend of HMSTR, which similarly took a nosedive following its release. Yet, recently, HMSTR has shown an upward trajectory. This leaves players wondering if this surge is merely the start of a prolonged uptrend or if it’s another instance of false hope, given their past disappointments.
How X Empire Price Soared To New ATH?
On October 24, the X Empire token was introduced with much excitement about its potential price surge towards $1. Yet, dissatisfaction among users regarding the airdrop distribution and process resulted in significant market turbulence, ultimately causing the token to plummet to a record low of $0.00003315 on November 3 following an 11-day slide.
Initially, the token took a sharp reversal and hit an all-time high (ATH) of $0.0002165 following a staggering week-long increase of approximately 350%. Notably, it experienced a surge of 115% in just the past 24 hours, although it’s now gradually decreasing from its ATH peak, currently standing at $0.0001962. Today, its trading volume has significantly risen to $477.52M due to a 230% surge, suggesting that users are actively re-investing in the token.
The surge in prices for X Empire, which has been steadily climbing, started when KuCoin introduced the X Empire staking feature offering a 4% reward. Already popular on various exchanges, the demand for the token increased even further with the launch of KuCoin’s X Coin feature. Additionally, the results of the US election significantly influenced this price rally.
On November 6th, Donald Trump secured the U.S. election victory, sparking a surge in the crypto market. Currently, the ‘bulls’ are leading the charge, with many cryptocurrencies reaching new highs. This momentum even propelled Bitcoin to an all-time high, but analysts foresee an even larger rally towards $100K. With such optimism and enthusiasm among users, X Empire has experienced its well-deserved bullish surge.
Will It Keep Rising?
Given the upward trend in the cryptocurrency market and the investor’s enthusiasm, it seems likely that the price of X Empire could keep climbing. Yet, given its historical trends, there’s also a chance that sellers might turn the tide, potentially causing a pause or consolidation following this surge.
Given the emergence from the falling wedge formation, it seems the upward trajectory should persist. Notably, there’s significant buying interest in the token according to technical analysis. For instance, the RSI value stands at 74.84423685, placing it within the neutral zone, suggesting that the trend will likely carry on. Furthermore, the simple and exponential moving averages, as well as Momentum, all point towards the same direction. If this trend continues and surpasses the resistance at 0.0002241, there’s a strong likelihood it will maintain its course.
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2024-11-09 14:09