Onyxcoin (XCN) Is in a Strong Bullish Phase Targeting $0.05–Here's Why

Over the past month, Onyxcoin [XCN] has made a strong upswing, reaching a two-year high of $0.049. Since reaching levels over the past day, it has

Over the past month, Onyxcoin [XCN] has made a strong upswing, reaching a two-year high of $0.049.

Since reaching these levels over the past day, it has experienced a correction. At the time of writing, Onyxcoin was trading at $0.03713 after a 245.61% increase over the past week. This bullish outlook was also extended on monthly charts, hiking by 1414.6%.

Despite this massive price pump, XCN remained approximately 79.7% below its ATH of $0.18 recorded three years ago. However, the prevailing market conditions raised questions over what’s behind the newfound market optimism.

Can Onyxcoin sustain the uptrend?

According to AMBCrypto’s analysis, Onyxcoin was experiencing a strong upward momentum as both retailers and whales accumulated.

For starters, Onyxcoin whales have been actively accumulating over the past week. As such, supply held by whales surged from 57.36 billion XCN tokens to 63.35 billion.

This marked a 5.99 billion increase in whale holdings in five days.

Source: Santiment

This accumulation is also evident across market participants. Thus, the exchange flow balance dipped to negative territory and settled at -2.15 million at press time.

This implies that more XCN tokens are flowing out of exchanges than inflow. Such market trend reflects positive market sentiment.

Source: Santiment

Looking further, active addresses have continued to surge, indicating growing network activity and utility. This is evidenced by a positive adjusted price DAA divergence. This has remained so over the past seven days.

Thus, more users are entering the market as active addresses surged with increasing adoption rates.

Source: Santiment

Finally, Onyxcoin investors currently feel that XCN is valued less than its worth, and the prevailing prices are cheap enough to enter the market. This undervaluation is confirmed by a negative MVRV ratio (-6.62).

This offered a buying opportunity for investors to accumulate the asset at lower prices.

Source: Santiment

Read Onyxcoin’s [XCN] Price Prediction 2025–2026

Simply put, Onyxcoin is currently in a strong bullish phase and investors are actively accumulating. With whales and retailers accumulating the altcoin, creating a high demand, it’s well-positioned for more gains.

Therefore, if the market holds, these sentiments, XCN could attempt a rally to $0.05. However, a market correction will see a decline to $0.0304.