XYO Price Prediction: Wallets Making Profit, Will There Be a Breakout
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- XYO has surged by 17% over the past week, boosting wallet profitability by 20%.
- The MVRV ratio indicates that XYO may be undervalued and has potential for further growth.
Recently, XYO experienced a substantial increase in trading volume, up 67% in just 24 hours according to CoinMarketCap. During this timeframe, its price climbed by 6.9%, resulting in a total gain of 17% over the last week.
The recent appreciation has elevated XYO’s market capitalization from $74 million to $123 million since the beginning of the month. However, further examination of technical indicators and on-chain data reveals mixed signals surrounding the token’s performance.
Xyo is currently forming an asymmetrical triangle pattern. span >
The four-hour chart for XYO displays an asymmetrical triangle pattern that hints at a potential upward break or trend reversal depending on selling or buying momentum. span > Currently, XYO is facing resistance at the upper limit of this triangle pattern; however, increased trading volumes will be necessary to sustain any upward movement. span> The Awesome Oscillator (AO) illustrates strengthening bullish momentum with increasingly larger green histogram bars. If this rally persists, XYO could aim for a price target of $0.0114. span>
A range of bearish indications are also present; for instance, Chaikin Money Flow shows a negative value of -0.11 which suggests greater seller activity compared to buyers . span >
A shift in trend could occur leading towards price declines below the lower edge support level at $0.007 within this asymmetric triangle formation . span>
Dramatic gains have led to a rise in winning (in-the-money) wallets increasing by nearly twenty percent (from thirty-six percent up until fifty-six percent ) over one month while losing wallets saw reductions from fifty-eight down to thirty-seven percent . span
/p> = A surge registering more profit-bearing wallets can indicate positive sentiment around that coin which bodes well ; conversely if traders seek profits meanwhile watching out closely must account changes observed within selling trends potentially triggering decline ahead.
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Source: Tradingview .
> Source: IntoTheBlock (
= The MVRV metric identifies possible undervaluation.
