BlockDAG Spearheads $21.7M Presale, Leading The Top 5 Eco-Friendly Cryptocurrencies

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 01 2024

XCH-2.45%

ADA+0.962%

XLM+1.248%

Should l Buy XCH?

BlockDAG: An eco-friendly cryptocurrency with an energy-efficient Proof-of-Engagement consensus mechanism, raising $21.7 million in its presale.
Stellar (XLM): Known for its low-energy Stellar Consensus Protocol and commitment to sustainable financial solutions globally.
Chia (XCH): Utilizes a unique "proof of space and time" consensus mechanism, promoting renewable energy use among users.
Hedera (HBAR): Advancing carbon-negative crypto innovations through low-energy hashgraph consensus and initiatives like the Crypto Climate Accord.
Cardano (ADA): Developed with the energy-efficient Ouroboros protocol, merging environmental care with cutting-edge technology for sustainable blockchain ecosystems.

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Technical Analysis for XCH

Technical Sentiment Analysis for Chia (XCH) As of , Chia (XCH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 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	1.86	2.415	2.888	3.443	3.916	4.471	4.944
Fibonacci	2.415	2.808	3.05	3.443	3.836	4.078	4.471

About XCH

Chia Network (XCH) is a layer 1 blockchain that uses its own custom-designed programming language called Chialisp and a novel consensus mechanism called proof-of-space-and-time (PoST). The combination of these two allows the blockchain to use less energy without compromising network security. In contrast to most other blockchains, Chia Network is a public, for-profit, open source company that aspires to become listed on NYSE or NASDAQ. Its blockchain is aimed at enterprise use, which is why Chia Network plans to have XCH on its balance sheet in case of a listing.Chia Network’s first proof-of-time function was released in 2019, with the first beta version of its blockchain launching in 2020. Chia Network achieved full functionality, including wallet functionality, transactions and smart contracts, with its mainnet launch in 2021.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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