XYO (XYO) Price Prediction and Analysis in November 2020
Cryptocurrencies are increasingly attracting the attention of investors. Top cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), and Chainlink (LINK), have become accepted as good investments. However, there are lesser-known cryptos that could also be potentially profitable. One of these is XYO, a low cap cryptocurrency that we will be analyzing in this article and looking at the price predictions for November 2020.
XYO is far down in the ranking of cryptocurrencies by market cap. It is currently the 777th largest cryptocurrency and one of the ERC20 tokens because it runs on the Ethereum blockchain. The current market cap is $3,728,558, and the price is $0.000290 with a 24-hour trading volume of $3,996.02 and the circulating supply of 12,844,821,266. This is close to XYO’s total supply of 13,960,974,963 XYO.
Created in 2017, XYO is an Oracle Network built with the aim of enlightening developers on the advantages of a decentralized internet as well as an infinitely scalable incentivized location data protocol. Specifically, the network anonymously collects and validates geospatial data or data with a geographic component, making it possible to have geospatial data easily verifiable on the blockchain. The XYO token can be traded on some top exchanges, including Bilaxy, KuCoin, and YoBit, among others.
XYO Price Prediction: Analysis
Generally, XYO has been in a downward trend since December 2018. However, it has gone up slightly since the year 2020 started. Taking a closer look at the price movement in the last month, we can see that the cryptocurrency has dipped rather sharply to much lower levels since the last days of October. After rising steadily to reach a year high of $0.000850 on 1 September before dipping to $0.000542 on 27 October and further down to $0.000276 on 30 October. The price has since remained under $0.0004 and is today at $0.000290.
At the moment, it seems to be in consolidation with a tightening price range. This seems to be a common pattern with altcoins at this time, and a breakout may be imminent.
The following are important resistance and support levels for traders to watch:
- Resistance Level (R3): 0.000395;
- Resistance Level (R2): 0.000366;
- Resistance Level (R1): 0.000320;
- Pivot Point: 0.000291;
- Support Level (S1): 0.000245;
- Support Level (S2): 0.000216;
- Support Level (S3): 0.000170.
There are no new developments on XYO at this time. However, the price has been soaring, reaching 3.65% in the last 24 hours. This brings the price to $0.000314 compared to $0.000287 previously recorded. Whether the upward movement will be sustained, it is a different issue, but you could watch it closely to see what happens.
XYO Price Prediction: Market Opinion for November 2020
The following are XYO price predictions from some key websites that are renowned for cryptocurrency price prediction. They may be relevant in helping you make investment decisions about XYO in November 2020.
Walletinvestor is one of the go-to sites for cryptocurrency price predictions. The website predicts that XYO could reach $0.000374 in the month of November and as low as $0.000161. Below are the price predictions for the next 14 days.
XYO forecast for the upcoming days:
|Date||Price||Min Price||Max Price|
Digitalcoinprice is even more bullish on XYO, predicting that the token could go as high as $0.00058096 in November. This will take it back to the pre-October dip that the token is yet to recover from and could be very lucrative for holders.
Tradingbeasts expects XYO to reach $0.0003543 by the end of November and the beginning of December 2020.
XYO Price Prediction: Verdict
These are the available details on what the price of XYO could be like in November 2020. In general, forecasts indicate optimism that XYO could break upward within the month, but this may delay, and the price may continue to consolidate into December. If you decide to invest in it, you should note that the price may go either way, and it is advisable to invest only what you can afford to lose.