Onyxcoin’s price action lately has interested traders, breaking free from its previous trading range with momentum. While crypto moves often come and go, XCN’s sustained push has sparked genuine interest among market watchers.
Several technical analysts point to key levels ahead that could make or break this rally. The token has seen its share of volatility, but the overall trend remains constructive for now. As always with crypto movements, the next few days should reveal whether this breakout has staying power or fizzles out like many before it.
What you'll learn 👉
XCN Breaks Out, Gains Market Traction
Crypto analyst Cilinix recently highlighted XCN’s breakout, emphasizing its strong technical structure. In a tweet, he noted,
“Broke out BEAUTIFULLY yesterday (look at that chart) and now ramping up again.”
His chart analysis suggests that XCN has flipped a critical resistance zone into support, confirming a bullish trend. The asset’s price structure shows higher highs and higher lows, reinforcing optimism among traders.
XCN’s price action aligns with a broader market recovery, with increased buying pressure pushing it above the 200-day EMA. The token’s ability to hold above $0.033 signals strength, with traders watching the $0.040 resistance level for further confirmation of a sustained rally.
Okay last chart this morning haha$XCN!
— Cilinix (@cilinixcrypto) January 30, 2025
Broke out BEAUTIFULLY yesterday (look at that chart) and now ramping up again. How high is this going?🔥 pic.twitter.com/kzpOi7QFf3
Key Support and Resistance Levels for XCN Price
The chart analysis highlights several price levels that could influence XCN’s next move. The $0.033–$0.034 zone, previously a resistance level, now acts as a support base. If the price dips, traders expect buying interest to emerge around $0.030, where the 200 EMA aligns.
Further downside support lies between $0.027 and $0.028, the last accumulation range before the breakout. On the upside, $0.039–$0.040 presents a key resistance area.
A daily close above this zone could pave the way for a push toward $0.042–$0.045. Analysts also note a volume gap above $0.040, indicating that a breakout beyond this point could accelerate price movement.
Read also: Polygon (POL) Could Dip Another ~50% as Price Falls Below Key Support Level
Traders Weigh In on XCN’s Performance
Market watchers continue to track XCN’s progress, with several analysts weighing in on its recent surge. CryptoPopeye, a trader, highlighted XCN’s 78% gains from its recent dip level, calling it the best-performing asset in the market.
Similarly, Sjuul from AltCryptoGems attributed the rally to strategic partnerships and incentives for node operators, which have fueled investor confidence.
STILL RISING!@OnyxDAO is still rising with a huge rise this week of over 200% in price! This massive rise is due to strategic partnerships from $XCN and new incentives for #Node operators!
— Sjuul | AltCryptoGems (@AltCryptoGems) January 30, 2025
Source: @CoinMarketCap pic.twitter.com/BL6EXenUs2
Despite a slight pullback in the past 24 hours to $0.03599 at press time, XCN has maintained its bullish trajectory, posting a seven-day gain of around 180%. If it sustains momentum above critical support levels, further upside remains on the table.
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