Onyxcoin Pumps 20%, Elite Analysts Predicts XCN Price Is ‘Gearing for the next Leg Up’

XCN holders have reason to be happy again since the Onyxcoin price pumped 20% today and is now trading around $0.025. So, where could be the XCN price

XCN price is up by 20% today, continuing a strong rally that began in late December. The coin is now trading at around $0.025.

Crypto veteran Ali Martinez believes that XCN is “gearing up for the next leg up.” He points out that the coin has been making lower highs while bouncing off the same support level repeatedly, forming a descending triangle pattern.

If XCN can push above $0.026-$0.027, we might see another move up. If XCN breaks above its current pattern, it might aim for its previous high zone between $0.040 and $0.047. However, if the XCN price drops below the support level, it could fall to $0.0139.

The trading volume has been getting lower and lower lately, which often happens right before a big move in either direction. Experienced traders usually wait for this big move to happen before making any decisions, as it helps confirm which way the price might go next.

XCN price is now up by more than 2,656% since late December. The coin surged to a high of $0.049343 during this period. This incredible move up began after XCN consolidated within a symmetrical triangle pattern on the price charts.

The coin reached its all-time high of $0.049343 on April 11, after which it faced some selling pressure and began consolidating within a descending triangle pattern. This pattern is usually formed when a price makes lower highs while bouncing off the same support level repeatedly.

The trading volume has also been decreasing gradually over the past few weeks, which is a sign that the price might be preparing for a breakout soon. Experienced traders usually wait for this breakout to happen before making any decisions, as it helps confirm which way the price might go next.

If we take a closer look at the XCN price chart, we can see that the coin is facing immediate resistance at $0.026-$0.027. If XCN can push above this level, we might see another move up.

If XCN breaks above its current pattern, it might aim for its previous high zone between $0.040 and $0.047. These price levels acted as strong resistance in the past and would likely be an important area to watch if the price moves up again.

However, if the XCN price drops below the support level, it could fall to $0.0139, which is another important support level based on Fibonacci analysis. Some traders are looking at potential targets of $0.12, $0.19, and even $0.38 if a strong uptrend forms.

Overall, XCN price is still in a bullish trend, but it’s important to watch the key levels mentioned above closely to see how the price might move in the coming days.

We also recommend checking out our recent analysis on whether Onyxcoin can secure a Binance listing and how it could affect XCN price.

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