Crypto analyst C-Zar shared a new video with his 36,000 YouTube subscribers today, and his message was clear: XCN might be headed for a short-term drop, but he’s not selling – he’s doubling down.
The video dives deep into technical analysis, chart patterns, and personal strategy, showing why C-Zar still believes Onyxcoin (XCN) has a lot of room to grow, even if it dips first.
What you'll learn 👉
Short-Term Bearish Signs on the XCN Chart
According to C-Zar, the XCN chart is flashing some pretty strong warning signals. The coin has hit a key support level three times, which some traders call a “triple bottom.” That sounds good on paper, but in practice, C-Zar says it often ends in a breakdown rather than a bounce.
He points to a few technical indicators that support this bearish outlook. There’s a hidden bearish divergence on the RSI (Relative Strength Index), where momentum is rising but the price isn’t. That usually suggests weakness. On top of that, he notes that the RSI has been repeatedly rejected at the 50 line, another bearish sign.
A bearish engulfing candle is forming too, which can often be a signal that a downward move is about to happen.
Eyes on the $0.014 Zone
Right now, XCN is trading around $0.017, but C-Zar expects it to fall closer to the $0.014 to $0.015 range. That area aligns with a key Fibonacci retracement level (the 0.5 zone), and has served as support and resistance in the past.
He also says that if the price drops below that range – even down to $0.0123 – it wouldn’t be the end of the world. Onyxcoin has a history of making quick wicks downward before bouncing back fast.
C-Zar emphasizes that he’s already prepared. He’s got buy orders set between $0.0144 and $0.015, and has no plans to sell his current holdings.
Despite the short-term bearish outlook, C-Zar is clearly bullish in the big picture. He believes that after XCN finds support, it could make a strong move upward – potentially reaching $0.048 in the next couple of weeks. He previously expected $0.056, but adjusted that target based on the new market structure.
He says we might see some consolidation in the lower range for about a week, followed by a recovery into mid-month. From there, he sees a breakout toward higher prices.
If the price drops hard and fast, C-Zar warns not to panic. The XCN price has shown this kind of behavior before. Sudden 40% to 50% drops followed by sharp recoveries are part of the coin’s history. He urges viewers not to try and time the exact bottom, but instead to have their buy orders ready in advance.
His final advice? Don’t wait for the perfect moment to buy. Set your limit orders early, be patient, and stay calm.
Read also: We Asked AI to Predict Onyxcoin (XCN) Price in May
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