Onyxcoin (XCN) is moving in an upward direction backed by volume appreciation despite the cautious environment in the crypto market. According to CoinMarketCap, the XCN price has surged by 26.86% over the last 24 hours and 28.96% over the last week.
At the time of writing, XCN is trading at $0.006038 with a trading volume of $131.07 million, which has surged explosively by 1920.46% over the last 24 hours. However, its market capitalization stands at $229.18 million, which is also up by 27.19%.
Source: CoinMarketCap
Also Read: Onyxcoin (XCN) Gears Up for Breakout and Eyes Key Resistance at $0.0190
XCN Maintains Breakout With $0.1816 in Sight
Furthermore, the crypto analyst Javon Marks highlighted that XCN continues holding its breakout structure and remains in strong positive territory, showing that bullish momentum is still active.
Instead of losing strength after the breakout, the price is defending key support levels, suggesting buyers remain in control and confidence is growing across the market for a larger move. This stability often signals the beginning of stronger upside expansion.
Source: Javon Marks’ X Post
Market watchers have their sights set on a crucial resistance area at $0.1816, where an upside breakout could generate gains exceeding 2,300% from current price levels.
The recent downtrend may have been a corrective pullback that may actually serve to provide better support for the next move higher and attract more bulls into the market. Higher volumes will lend credibility to the bullish pattern.
XCN Technical Indicators Point to Bullish Momentum
According to TradingView, XCN shows a sharp reversal to bullish from months of calm consolidation. The digital asset has shot straight up in a vertical move, shooting past all the main levels by 31%.
In the technical analysis world, this type of chart pattern is known as a “god candle” that broke out of the bearish trendline.
Source: Tradingview
RSI spikes sharply from 47, which is neutral, to 80, indicating that the asset is overbought. A breakout beyond the 200-day moving average line normally denotes a bull signal.
However, a significant price rise usually means the end of an uptrend. It is advisable for traders to keep an eye on a pullback to the 0.00600 level.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Onyxcoin (XCN) Price Forecast: XCN Prepares for Breakout Above $0.018 Resistance
