Proof-of-stake blockchain XION introduces native utility token
Launch of XION Foundation: Web3 Foundry Burnt has established the XION Foundation to oversee the development of the proof-of-stake blockchain XION, alongside the introduction of its native token, $XION, aimed at democratizing access to Web3 and enhancing governance and community incentives.
Funding and Ecosystem Development: XION has raised a total of $36 million from prominent investors, including Animoca Brands and Circle, and aims to facilitate user-friendly decentralized applications through its Chain Abstraction solution, allowing seamless interaction with dApps without complex security measures.
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Technical Analysis for XION
Technical Sentiment Analysis for XION (XION). As of , XION (XION) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XION stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, XION is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XION (XION) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0515 | 0.0809 | 0.101 | 0.13 | 0.15 | 0.179 | 0.199 |
| Fibonacci | 0.0809 | 0.0996 | 0.111 | 0.13 | 0.149 | 0.16 | 0.179 |
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