You might find it surprising, but Onyxcoin price has been moving in the same price pattern since April. Even with all the market excitement, rallies, and dips, XCN price has kept following a clear path.
The token has been trading inside a descending wedge pattern. The top of the wedge has been acting like resistance, while the bottom serves as support. At the end of May, the price reached the top of this channel again. Based on the three-month pattern, we would normally expect a dip from here.
So where is the Onyxcoin price heading right now? The straightforward answer is that we could see a 15% to 20% drop back toward the bottom of the falling wedge. This expectation comes from the trend of lower highs and lower lows (typical of a downtrend). The last lower low in this wedge was around $0.012, so for another lower low to form now, the price would need to drop below that level. From the current price of about $0.014, this means at least a 15% dip.
What you'll learn 👉
30 Days Is a Long Time, and Many Things Can Change for XCN Price
Does this mean there’s no chance of a rally for Onyxcoin in July? Not exactly. While price patterns and chart analysis are important, other factors like fundamentals and on-chain data often move the market more. The charts just reflect what these factors are already causing.
Several things could affect the XCN price in July, including whale movements, news about the project, and overall market sentiment. If the market mood improves significantly, we could see a breakout.
This breakout could push XCN price toward the top of the wedge, and if it manages to break above that resistance, the price could target around $0.027, where the falling wedge pattern started in April. But for this to happen, the market would need a strong boost, like a Bitcoin rally to new all-time highs sparking FOMO or the kick off of a new altcoin season.
The Worst Case: What If Things Go South for Onyxcoin?
But what if the market takes a turn for the worse? In that case, the worst scenario would be a breakdown below the wedge pattern. This could lead Onyxcoin price to fall toward the next major support around $0.0081.
This support level has held strong since January and has acted as a key area where buyers have stepped in twice before. It’s possible that buyers will defend this level again, but if the market becomes extremely bearish, breaking below $0.0081 could happen.
A Look at XCN Monthly Chart
When we zoom out to the monthly timeframe, it becomes even clearer why we shouldn’t expect a bullish move without a significant breakout or an external catalyst. Of the past six months this year, only January saw strong gains for Onyxcoin price. February and March ended in losses, April was mixed with a bullish attempt that got pushed back, and both May and June closed lower than they started.
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This pattern shows that the bears have been in control for most of 2025 so far. Without a clear breakout above the wedge or a big change in market sentiment, the trend favors a bearish continuation.
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