Onyxcoin (XCN) has seen a sharp dip of over 30% in the last three days, and for many holders, the sudden decline may be unsettling. Just a few weeks ago, the XCN price had surged more than 60%, pushing optimism around a potential breakout. Now, with prices falling below $0.017, some investors are wondering whether it’s time to sell or hold tight.
Crypto analyst C-Zar, in a detailed breakdown on his YouTube channel C-Zar Gets Crypto, addressed the growing concerns surrounding the Onyxcoin price. Right off the bat, he made it clear that panic selling is not the answer. In fact, despite the recent dip, he believes this is a temporary move and not a breakdown of the larger trend.
What you'll learn 👉
XCN Price Action Still Holds a Bullish Structure
According to C-Zar, the current Onyxcoin price chart still looks solid when examined over a longer timeframe. While he acknowledged that closing below the $0.017 mark looked alarming, he emphasized that the overall structure of higher highs and higher lows is still intact. C-Zar referred to the recent pattern as a “busted W,” which might look like a breakdown but is not a sign of a trend reversal.
C-Zar also broke down the Fibonacci levels at play. The XCN price had reached the golden ratio (1.618) during its earlier rally, which served as resistance. Now, it is finding support between the 7.86 and 8.86 Fibonacci retracement levels, which he described as typical behavior for this type of correction. These levels, he explained, often act as “bread and butter” support zones when a token is in a bullish cycle.
Volume trends further support his argument. C-Zar noted that the volume on this dump is far lower than what was seen during the uptrend days. When XCN was climbing, it had volume spikes of 12% to 18%. On the dump day, however, volume only reached about 6.5%. To him, this is a sign that very few people are actually selling. Most of the action likely came from panic sellers rather than a broader loss of investor confidence.
C-Zar Says Panic Sellers Might Regret It
Throughout his video, C-Zar made it clear that he sees this price action as a dip to buy, not a signal to exit. He explained that the majority of volume during this dump came at the bottom, right around prior support zones. Historically, every time Onyxcoin price has touched these levels, it has bounced back sharply.
He even joked that those who sold XCN below $0.017 might be “cursing themselves and their families for all eternity,” referencing a scene from the movie Holes. But behind the humor was a serious point: this price zone, in his view, is a gift for those looking to add to their positions.
Looking at shorter timeframes, he also identified bullish divergence on the one-hour chart. The RSI showed higher lows while the price made lower lows. This kind of divergence is often an early signal of a reversal, suggesting that XCN may soon push higher again.
C-Zar reminded his viewers that this pattern isn’t unique to XCN. Many altcoins tend to dip when Bitcoin runs, only to bounce back once Bitcoin stabilizes. He sees this moment as part of that broader cycle and believes Onyxcoin is still well-positioned for a continuation.
Despite the emotional toll such pullbacks can take, C-Zar urged viewers to look at the big picture. He expects the next significant rally could push XCN price to somewhere between $0.26 and $0.32, which would represent a massive move from current levels.
Should You Hold XCN or Move On?
C-Zar’s analysis comes at a time when many traders are questioning the strength of Onyxcoin’s momentum. But for him, the message is clear: XCN is still trending higher and the fundamentals of this rally remain intact. The Onyxcoin price correction is part of a healthy cycle, not a crash.
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He even ended the video saying he’s planning to buy more. Whether using paycheck money or even considering a loan (half-jokingly), he framed this zone as an opportunity rather than a warning sign. While he repeated he’s not a financial advisor, his message was loud and clear—buy the dip and hold for the rip.
For those still holding XCN, C-Zar’s optimism offers a calming perspective. It may not erase the pain of a 30% drop in just a few days, but it helps explain why this move might be less damaging than it looks on the surface.
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