Onyxcoin (XCN) Eyes 30% Rally Amid Bullish Momentum and Market Speculation
- Onyxcoin (XCN) could see a 30% rally by May 2025 as bullish momentum builds.
- Key resistance at $0.027 and support levels to watch for a potential breakout or reversal.
Onyxcoin (XCN) has again captured the spotlight, posting substantial double-digit gains and showing signs of further growth. Currently priced at $0.017394, the altcoin looks set to climb an impressive 30.75%, potentially hitting $0.021398 by May 12, 2025, according to market experts.
A Strong Start Powered by Technical Breakouts
Over the past 24 hours, Onyxcoin has risen 6.8%, outperforming the overall crypto market, which has grown by 8.38%. It’s also been gaining 3.97% against Bitcoin (BTC) and 5.19% against Ethereum (ETH).
Looking at the past month, Onyxcoin has posted a remarkable 102.52% gain, and in the last year, it’s up a staggering 721.57%, climbing from $0.002117 to its current value.
The surge in price comes with clear bullish signals, with 26 out of 29 technical indicators showing strong buy signals. Moving averages across different time frames (MA3, MA5, MA10, MA50, and MA200) indicate positive momentum.
The Relative Strength Index (RSI) stands at 44.69, suggesting there’s still room for the coin to rise without becoming overbought.
Despite the positive outlook, Onyxcoin is still trading below the 50-day SMA ($0.018377) and its all-time high of $0.183593 from May 2022. This means there’s plenty of potential for growth if the current trend continues.
Bullish Market Conditions Point to Higher Highs
In recent weeks, Onyxcoin has regained ground after a massive 237% rally between April 9 and 11, when it surged from $0.008 to a peak of $0.027. This sharp rise broke a multi-month downtrend, and since then, the coin has been consolidating within the $0.016–$0.020 range. The market now seems poised for another potential breakout.
The coin is holding steady above key moving averages, including the 20-day EMA and the 50, 100, and 200-day SMAS, which is a positive sign. The recent alignment of shorter-term moving averages crossing above longer-term ones is often seen as a precursor to further price increases.
If Onyxcoin can break through the resistance level at $0.027, analysts predict the coin could reach $0.035, possibly even $0.05, the psychological half-cent level and a previous high from January.
Support and Resistance Levels to Watch
Onyxcoin’s support levels are currently at $0.0158, $0.0154, and $0.0151 and resistance levels sit at $0.0165,$0.0168, and $0.0172. If resistance breaks beyond these levels, it could signal a strong bullish momentum and a potential high at $0.027.
Meanwhile, any dip below the$0.016-$0.020 support level might nullify any bullish outlook. A breakdown below the 20-day EMA could trigger a downward correction, invalidating recent gains.
Some traders are concerned about the Binance Futures listing on April 11, which followed a 150% rally.
Onyxcoin’s market sentiment remains valid and ready for a potential 30% rise. The Fear & Greed Index is at 59, which places it in the “Greed” zone. Although this might suggest investor interest and confidence, it’s also a warning that extreme greed often signals the potential for a correction.
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Onyxcoin (XCN) Eyes 30% Rally Amid Bullish Momentum and Market Speculation
- Onyxcoin (XCN) could see a 30% rally by May 2025 as bullish momentum builds.
- Key resistance at $0.027 and support levels to watch for a potential breakout or reversal.
Onyxcoin (XCN) has again captured the spotlight, posting substantial double-digit gains and showing signs of further growth. Currently priced at $0.017394, the altcoin looks set to climb an impressive 30.75%, potentially hitting $0.021398 by May 12, 2025, according to market experts.
A Strong Start Powered by Technical Breakouts
Over the past 24 hours, Onyxcoin has risen 6.8%, outperforming the overall crypto market, which has grown by 8.38%. It’s also been gaining 3.97% against Bitcoin (BTC) and 5.19% against Ethereum (ETH).
Looking at the past month, Onyxcoin has posted a remarkable 102.52% gain, and in the last year, it’s up a staggering 721.57%, climbing from $0.002117 to its current value.
The surge in price comes with clear bullish signals, with 26 out of 29 technical indicators showing strong buy signals. Moving averages across different time frames (MA3, MA5, MA10, MA50, and MA200) indicate positive momentum.
The Relative Strength Index (RSI) stands at 44.69, suggesting there’s still room for the coin to rise without becoming overbought.
Despite the positive outlook, Onyxcoin is still trading below the 50-day SMA ($0.018377) and its all-time high of $0.183593 from May 2022. This means there’s plenty of potential for growth if the current trend continues.
Bullish Market Conditions Point to Higher Highs
In recent weeks, Onyxcoin has regained ground after a massive 237% rally between April 9 and 11, when it surged from $0.008 to a peak of $0.027. This sharp rise broke a multi-month downtrend, and since then, the coin has been consolidating within the $0.016–$0.020 range. The market now seems poised for another potential breakout.
The coin is holding steady above key moving averages, including the 20-day EMA and the 50, 100, and 200-day SMAS, which is a positive sign. The recent alignment of shorter-term moving averages crossing above longer-term ones is often seen as a precursor to further price increases.
If Onyxcoin can break through the resistance level at $0.027, analysts predict the coin could reach $0.035, possibly even $0.05, the psychological half-cent level and a previous high from January.
Support and Resistance Levels to Watch
Onyxcoin’s support levels are currently at $0.0158, $0.0154, and $0.0151 and resistance levels sit at $0.0165,$0.0168, and $0.0172. If resistance breaks beyond these levels, it could signal a strong bullish momentum and a potential high at $0.027.
Meanwhile, any dip below the$0.016-$0.020 support level might nullify any bullish outlook. A breakdown below the 20-day EMA could trigger a downward correction, invalidating recent gains.
Some traders are concerned about the Binance Futures listing on April 11, which followed a 150% rally.
Onyxcoin’s market sentiment remains valid and ready for a potential 30% rise. The Fear & Greed Index is at 59, which places it in the “Greed” zone. Although this might suggest investor interest and confidence, it’s also a warning that extreme greed often signals the potential for a correction.
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Read More