XDC Network made significant gains in the past day, ranking among the top performers in the top 100 tokens by market capitalization, according to CoinMarketCap. The asset has a total market value of $719 million.
Technical Setup: Resistance and Opportunity
Chart analysis reveals XDC has entered a supply zone that has historically restricted its price advances. The Accumulation Distribution Indicator showed a slight pullback as the price entered this zone, suggesting distribution activity. However, the Bull Bear Power Indicator formed one of its strongest green bars in days, confirming bullish control among market participants.
Perpetual Markets Support Upside Momentum
Activity in perpetual markets reinforced the bullish move. The Funding Rate held steady at 0.0050%, reflecting sustained long positioning. Open Interest surged 18% to $7.12 million, indicating increased capital flowing into bullish bets on the asset.
Spot Market Selling Pressure
Risk remains from spot market flows, which have been dominated by sellers. In the past 24 hours, $1.08 million more XDC flowed into exchanges than out, a positive netflow that typically signals investor selling and short-term holding reluctance. Broader spot market trends show consistent selling pressure across multiple timeframes.
The competing signals suggest XDC's near-term direction depends on whether buyers can overcome the supply zone resistance while managing ongoing spot market selling pressure.
