Should I buy eCash (XEC) in April 2022?

eCash (XEC) has exploded on April 02, 2022, and the price of this cryptocurrency has advanced from $0.000097 to $0.00016 in less than twenty-four hours

The current price stands at $0.000108, and if you decide to buy XEC in the upcoming days, you should always use a “stop-loss” order because the risk remains high.

eCash transactions go directly between users

eCash (XEC) is a cryptocurrency that provides a way to pay for products and services without resorting to paper or coin currency.

eCash was briefly known as Bitcoin Cash ABC (BCHA), on November 15, 2020, the Bitcoin Cash blockchain split into two chains, and the eCash branding came into effect on July 1, 2021.

This cryptocurrency is available in every country, and users can use eCash to send and receive payments without the need for a bank account. Since eCash transactions go directly between users, they just need an electronic wallet to receive, buy or send this crypto.

It is important to say that eCash uses” bits” which make it easier for users to send small payments because they no longer have to handle unwieldy decimal places. For example, if you decide to send 0.00001000 bitcoins (which was the base unit used by BCHA), you’ll simply send 10 bits.

eCash differs from other new tokens where the founders often hold a large proportion of the total supply, while in this case, the founders hold only a small amount of the total supply. The team of eCash added:

eCash opens the door to possibilities previously unattainable by combining the core tech behind Bitcoin’s success, the same fixed supply, halving schedule, and genesis block with the latest Proof of Stake consensus & protocol governance.‍

eCash is already more than 90% issued, which means that the new supply of XEC into the market will continue to be very limited.

The default base unit of eCash has two decimal places (100 satoshis), and the inflation rate for this coin is already low (less than 2%) and will decrease to zero.

eCash (XEC) has exploded on April 02, 2022, and if you decide to buy this cryptocurrency in the upcoming days, you should use a “stop-loss” order because the risk remains high. The daily volume of eCash (XEC) remains high, but technically looking, the risk of further decline still persists

$0.00010 represents strong support

eCash (XEC) has been one of the best performers on the cryptocurrency market this Saturday, and the price of this cryptocurrency reached levels above $0.00016.

Data source: tradingview.com

eCash (XEC) weakened from the recent highs, but if the price jumps above $0.00014 resistance, it would be a signal to trade XEC.

The next price target could be at $0.00016 or even above; still, if the price falls below $0.00010 support, it would be a strong “sell” signal.

Summary

eCash (XEC) is a cryptocurrency that provides a way to pay for products and services without resorting to paper or coin currency. eCash (XEC) weakened from the recent highs, but if the price jumps again above the $0.00014 resistance, the next price target could be at $0.00016 or even above.

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