Chain Price Prediction – Will XCN Price Hit $0.5 Soon?

This Chain (XCN) price prediction 2022 article is based on technical analysis. Below, you will see the key confluences why we arrived at our Chain (XCN) price analysis and prediction.

The cryptocurrency market is growing steadily and gaining momentum with the total market capitalization of all cryptocurrencies tending towards $1.18 trillion according to CoinMarketCap. The price of XCN has increased by over 104% in the past 30 days.

In this Chain (XCN) price analysis and price prediction, we take a look at the performance of XCN and if it will reach $0.4 by the end of 2022. But before that, let us look at what is Chain (XCN)?

What is Chain (XCN)?

Chain is a cloud blockchain infrastructure that enables organizations to build better financial services from the ground up. Chain has launched Chain Core which is a permissioned and open-source blockchain and Sequence, its ledger as a service product. Clients can receive discounts and pay for commercial fees with Chain Tokens (CHN) as well as participate in community protocol governance and access to premium features.

Using Chain Core, institutions can launch and operate a blockchain network, or connect to a growing list of other networks that are transforming how assets move around the world. The Chain Protocol defines how assets are issued, transferred, and controlled on a blockchain network. It allows a single entity or a group of organizations to operate a network, supports the coexistence of multiple types of assets, and is interoperable with other independent networks. Chain Core is engineered for the performance demanded by modern financial systems. The time to create, sign, and validate a transaction is measured in milliseconds.

The sequence is a ledger-as-a-service that enables organizations to securely track and transfer balances in a token format. Using Sequence organizations can securely manage their financial assets in a token format on private ledgers and, soon, seamlessly transfer them across public networks.

Current Market Status for Chain (XCN)

At the time of writing, the price of Chain (XCN) is $0.17 with a 24-hour trading volume of $295,384,239 and an increase in the price of 61.05%.

The present circulating supply of Chain is 16.95B XCN according to CoinMarketCap. Some of the major crypto exchanges for Chain (XCN) are Bittrex, Kucoin, Gate.io, Mexc, Huobi Global, and others.

Now that we have seen the present status of Chain (XCN) in the market, let’s look at the price analysis of XCN.

Chain (XCN) Price Analysis 2022

Chain (XCN) is in the 208th position in the market capitalization of cryptocurrencies according to CoinMarketCap. It has increased by 99% in the past 7 days.

But will the recent changes and development in the blockchain help the digital currency price to reach higher? Let’s proceed to the charts in this Chain price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for XCN/USDT, we can deduce that the price of Chain might get bullish in some days since the price had a breakout at the first half of the channel from the top. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 1Day chart is 81.13.  This shows that XCN is showing an overbought trend since its RSI lies between 70 and 100. This value can trigger a bullish or bearish run if investors reposition themselves either towards the buyers or sellers.

From the chart above, the 50-MA is above the 30-MA which means that long-term investors would gain. However, since the gap between the two moving averages is not wide and both moving averages are below the recently formed candlesticks, the price of the Chain might continue to surge.

Chain (XCN) Price Prediction

The chart below shows that Chain (XCN) has performed great over the past few days. If this trend continues, Chain might run along with the bulls, overtaking its $0.176 resistance level and climbing higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone Chain from its uptrend position. In simpler terms, the price of XCN might plummet to almost $0.052, a bearish signal.

Meanwhile, our long-term Chain (XCN) price prediction for 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.173 according to CoinMarketCap this year. However, that will only happen if it breaks many previous psychological resistances.

Chain (XCN) Price Prediction 2022

If this bullish trend continues, Chain will reach $0.30 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $0.2. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $0.40 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Chain (XCN) Price Prediction 2023

If Chain (XCN) holds the support level around 50-MA, the long-term moving average of 50 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $0.6, making it not plummet but play consistently.

Chain (XCN) Price Prediction 2024

As per the latest upgrades, developments, Chain (XCN) price prediction, and new project forecasts of the platform, Chain (XCN) investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of XCN in the crypto market, and it will be the best investment as the price can spike and reach around $0.8.

Chain (XCN) Price Prediction 2025

In the next four years, Chain (XCN) prices could race up to $2. However, reaching this level could not be so difficult for Chain as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that Chain (XCN) has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Chain (XCN) Price Prediction 2026

As per the latest upgrades, developments, Chain price prediction, and new project forecasts of the platform. Moreover, this might boost the price of Chain (XCN) in the crypto market, and it will be the best investment as the price can spike and reach around $5.

Conclusion

Chain has a bright future ahead of it from 2022 to 2026. With ongoing developments happening within the Chain ecosystem, as well as in the overall crypto market, we may see XCN reach new heights.

Meanwhile, our long-term XCN price prediction for 2022 is bullish. In addition, it has a high possibility of surpassing over $0.3 and may reach above $0.4 this year. However, that will only happen if it breaks past many psychological resistances.

As said above, Chain (XCN) may even reach $0.4 if investors have decided that Chain is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.