What Is Chia Network?
Chia Network Overview:
- Founded in 2017 by Bram Cohen and Ryan Singer, Chia Network operates an eco-friendly blockchain with a unique consensus mechanism called Proof of Space and Time (PoST).
- Utilizes Chialisp programming language and $XCH token, farmed using empty disk space instead of mining.
- Offers decentralized data management and regulatory compliance, distinguishing itself in the DePIN and RWA sectors during the current bull run.
Proof of Space and Time Mechanism:
- Combines Proof of Space, rewarding unused disk space owners, and Proof of Time for network security and predictability.
- Requires only initial intensive resource allocation for plotting drives, making it resource-efficient and decentralized.
Chia Network Developments:
- Continuously meets roadmap goals and introduces Chia Cloud Services Platform catering to enterprises for digital asset management.
- Provides features like Escrowless trades, multi-sig vaults, and peer-to-peer trading without requiring specialized tech development.
RWA Sector Involvement:
- Active in tokenizing real-world assets, collaborating with entities like the World Bank for fraud-resistant data storage and carbon credit sales.
- Chia's Datalayer technology is utilized by governments and enterprises for secure transactions.
$XCH Token Information:
- Current price at $30.49 with a market cap of $320 million, circulating supply of 10.5 million tokens.
- Available on exchanges like MECX, Gate.io, KuCoin, and OKX for trading and investment opportunities.
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Technical Analysis for XCH
Technical Sentiment Analysis for Chia (XCH) As of , Chia (XCH) 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 XCH 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 stock.
Support, Resistance & Moving Averages From a structural perspective, XCH 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 $-.
Chia (XCH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.851 | 2.41 | 2.879 | 3.438 | 3.907 | 4.466 | 4.935 |
| Fibonacci | 2.41 | 2.803 | 3.046 | 3.438 | 3.831 | 4.074 | 4.466 |
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