Our beloved XSPEC may have dropped by another 12% today but let's not forget that the market is still up by a total of 346% from the 2019 opening price - this is still something good to celebrate!
The cryptocurrency had even managed to surge to a high of $0.92 achieving a 645% price increase on the closing price of that day from 2019s open price! This run toward $0.92 was largely due to the activation of Stealth Staking - finally, we can stake in private and still earn interest without any nosy individuals trying to snoop on our stacks!
Since the release of Stealth Staking the XSPEC team have also blessed us with a new WhitePaper which extensively covers all privacy features, PoSv3 vs PoAS, governance and roadmaps.
The recent price drop has now pushed the market down beneath the $0.50 level to where it trades at around $0.47. Interestingly enough, we have now reached the .618 Fib of the April - May bull run so - hopefully - we might actually be able to hold here! Check it out below;
IF we do break below the .618 Support, we can find more support at $0.41, $0.40 and $0.3590. If you guys keep dumping on us - hopefully the $0.30 support level can stop you all!
Once we break back above $0.50 I will be looking for resistance at $0.53, $0.55 and $0.60. We can also see that price action has established a short term descending trading channel which I hope we do not stay trapped within for too long. The upper boundary of the channel may cause problems but let’s see when we get there!
Against Bitcoin, well all we can say is things are not looking too pretty! See for yourself below;
XSPEC has been dropping heavily - like a stone, or a rock, or a boulder! However, there may be some hope on the horizon as we have reached some support at the 3470 SAT area. Hopefully, we will hold here but if not there is further support at 3000 SAT and 2546 SAT.
Things are looking bleak against BTC but don’t worry too much as this is apparent across the entire industry as everybody continues to sell their altcoins to take advantage of the BTC rise. Once BTC settles, we should see the money flood back into the altcoins and XSPEC.