Despite two rebounds this week, X Empire’s price has fallen again, worrying its holders, but it may soon end with another rebound.
As Bitcoin price loses bullish momentum, its impact is also felt in other cryptocurrencies including X Empire, whose price has dropped 11% in the past 24 hours. X coin barely managed to recover from a multi-week downtrend, leaving holders disappointed. However, with the recent drop, there are concerns that the coin may lose value in the market as many altcoins are still holding gains.
More importantly, it was way behind the timeline for investors. This was because, given its pre-launch popularity, many analysts predicted that the X price would rise to $0.1. However, it was valued at just $0.0002657, which made many wonder if it was already running out of bullish momentum.
Analyzing X Empire’s price performance
The token was listed at $0.00009599 but has risen to $0.0002657, which is quite high. However, considering the demand for the X Empire token before its listing, this price is disappointing, especially in the current market conditions where bulls dominate. Regardless, the token has also experienced an uptick, soaring to an all-time high of $0.00058 just five days ago. However, this was short-lived and the X price immediately fell after another consolidation until yesterday, when the price surged again.
Yesterday, Binance launched the futures contract 1000XUSDT, pushing up its price. At the same time, Binance listed HIPPO, and its price also soared quickly after the announcement. Overall, the token is up 137% in a week, which is quite a high increase. However, today's 11% drop is worrying because many people are worried that the bulls will lose this battle, resulting in a long-term downtrend.
Meanwhile, its biggest competitor Hamster Kombat is also caught in another consolidation phase, even though HMSTR price is up 50% in a week. Currently, it is 60% away from its ATH, while X is 54% away from its ATH, which may indicate limited trending for these click-to-earn games.
Has X Empire run out of big shots?
It has not been long since the price of X dropped to a minimum of $0.00003315, but even so, it has surged by 706.67%. Moreover, two rebounds in a week show that bulls are still active in this memecoin, and today’s drop could be part of a temporary consolidation. Moreover, the coin is facing strong buying pressure, the RSI is neutral, and the rest of the technical factors suggest that buying is dominant.
However, momentum and the hull moving average indicate the presence of sellers, causing X Empire price to continue to consolidate. More importantly, if the next candle breaks above 0.00027341, an uptrend is likely to occur.
Even cryptocurrency analysts have confirmed the ongoing consolidation. One of the analysts claims that despite BTC’s recent decline, X Empire remains strong. What’s more, he predicts that X Empire price could see a breakout and surge higher.
