The price of XEC exploded more than 55% in one session, rising from $0.0000062 to $0.0000100 after ASTER announced the trading of perpetual futures for the token with up to 5x leverage. The listing came with a promotional campaign offering trading points by 1.2 times until July 25, helping to promote a sharp jump in trading activity across the derivatives market.
XEC cryptocurrency derivatives activity reaches new highs
The bigger story isn’t just rising prices, but what’s happening beneath the surface. Open interest in XEC Derivatives It rose to an all-time high of $2.30 million, representing a significant increase on levels seen since 2021. Intraday derivatives volume also rose 85% to $4.51 million, while open interest jumped 24%, highlighting the growing participation from leveraged traders.
This increase in activity indicates that the rally was accompanied by expanding interest in the market rather than price action occurring separately.
Technical indicators are turning increasingly bullish in XEC price
XEC price has now broken above the 200-day EMA resistance level, while the 20-day EMA has crossed above the 50-day EMA, triggering a bullish crossover. Momentum indicators also continue to favor buyers, with the MACD showing a wide distance between its signal line and the MACD line, reflecting strong upward momentum.
The Awesome Oscillator (AO) histogram is also trending higher, while the Chaikin Money Flow (CMF) is at just 0.04, remaining well below the 0.20-0.30 area often associated with stronger selling pressure.
Momentum is building but risks are rising
Not every indicator is flashing green. The Relative Strength Index (RSI) rose to 78, putting the XEC price in the overbought zone where profit taking often begins to take place.
However, if the buying demand remains healthy after ASTER existingthe current momentum could extend even further. In light of this scenario, XEC price It may try to rise again towards $0.0000200. However, high momentum also increases the risk of a sharp pullback if aggressive sellers intervene.
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