XDC Price Hikes Amid Bullish Momentum, Faces Resistance at Supply Zone

XDC Network made a significant move upwards in the past day, signaling the presence of buyers. According to CoinMarketCap, at the time of writing, XDC had the third-highest gains among top 100 tokens by market capitalization.

The asset's total market value is $719 million, and it is likely to continue seeing an upswing in the short to near term, given its current price structure and indicator levels pointing towards more upside.

However, XDC faces a key test at a supply zone where it has previously been restricted from surging further. The asset has just traded into this zone, with chart analysis showing a clear rejection as the price traded in, resulting in a drop lower.

This does not necessarily confirm a bearish market scenario, and the drop is likely temporary, especially as the Bull Bear Power (BBP) Indicator points to a bullish presence.