Why OnyxCoin (XCN) Might Be the Altcoin Everyone Regrets Ignoring

The XCN price is reacting well during the positive market momentum, as it gained 9% today, now trading around $0.21.

The XCN price is reacting well during the positive market momentum, as it gained 9% today, now trading around $0.21.

Still relatively unknown, but decent in terms of quality, YouTuber ‘C-Zar’ posted a video about XCN.

XCN Reaches Key Fibonacci Level As Technical Signals Point To Further Growth

In his recent video, C-Zar highlights XCN’s performance, noting that the price reached $0.21 on April 24th after closing at $0.2132 the day before. While he isn’t overly concerned with candlestick wicks, he prefers to focus on the daily close above key Fibonacci levels, especially the 0.236 level.

As the chart shows, the XCN price closed above the 0.236 retracement from recent lows to highs, which might suggest that the downtrend has come to an end.

This is a “double confirmation” across Fibonacci levels, which according to C-Zar, increases the probability of the price continuing to move higher than before, forming a breakout pattern.

On the chart, we can see multiple bull flags, and the breakout seems real considering the price action and volume.

If this pattern continues, then we might see the price rallying to around $0.256, which would be a significant move from the current price point.

Over the past 24 hours, the trading volume has increased by 98%, which C-Zar sees as a positive sign. He mentions that the volume is keeping up with the price increase, indicating genuine market interest.

The Relative Strength Index (RSI) shows that the price is almost overbought, but according to C-Zar, this isn’t necessarily bad news.

Both the daily and 4-hour RSI show a healthy cooling off without any crashing.

However, he does caution that if the day closes red (price ends lower), then XCN might drop to around $0.19 or $0.186, which he would still view as normal consolidation and not a trend change. Ideally, a green close, even slight, would be better to avoid rejection from the overbought zone.

XCN Price Predictions

In the coming weeks, C-Zar expects a push toward $0.256. By the end of June, he anticipates the XCN price to reach between $0.20 and $0.30, with $0.26 being a realistic high. He expects to see resistance at $0.18, $0.20, and $0.22. The price won’t go up in a straight line; there will be some ups and downs along the way.

C-Zar also mentions that he hasn’t sold any of his XCN yet, though he had thoughts about it. He emphasizes staying calm and avoiding making emotional decisions. He believes XCN will perform better than most altcoins, although he admits that some smaller coins might experience bigger short-term gains due to having more room to grow.

This analysis suggests that even with the recent price surge, OnyxCoin (XCN) might still be in the early stages of its growth cycle. Investors who missed the initial rally could potentially still find value, especially if the technical patterns continue to play out as predicted.

Read also: How High Does Onyxcoin (XCN) Price Need to Go to Turn $10-15K Investment Into $1 Million?

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