The cryptocurrency market has underperformed to date, but among the top 100 cryptocurrencies, XEC is the best performer.
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XEC, the native token of the eCash ecosystem, is the best performer among the top 100 cryptocurrencies today. The coin has gained over 30% in the past 24 hours, outperforming the broader market in the process.
The broader cryptocurrency market has been underperforming over the past two weeks. The market has lost over 1% of its value to date, with the total market capitalization now once again below the $1 trillion mark.
Bitcoin has fallen below $20k for the first time this month. At press time, BTC is trading at $19,813, down more than 1% to date. Ether has also lost its support above the $1,500 level and is now trading at $1,449 per coin.
XEC’s rally comes after the development team announced That post-avalanche consensus will go live on the eCash mainnet on 14 September.
According to the team, consent is followed by 51% attack prevention which significantly enhances the security of the network, bringing it on par with the leading proof-of-work chain. It also brings 1-block finality to eCash, which opens the door for exchanges to enable 1-confirmed deposits.
prime level to watch
The XEC/USDT 4-hours chart is bullish as eCash is outperforming in a bearish trend from the broader market.
The MACD line jumped into the positive zone on Sunday and remains within the zone, indicating a bullish momentum. The 14-day RSI of 74 suggests that XEC may enter overbought territory if the rally continues.
As of press time, XEC is trading at $0.00004883 per coin. If the positive rally is sustained, XEC is likely to rise above the $0.00005357 resistance level before the end of the day.
However, the second key resistance level at $0.00006362 should prove difficult for XEC unless it finds support from the broader cryptocurrency market.