XCN has had a rough few weeks. After briefly pushing above $0.020 in May, the price has been on a steady decline, now trading around $0.0134. The downtrend has been persistent, with lower highs and lower lows showing that sellers are still in control. However, something important is starting to form on the chart – and it could be the first real sign that momentum might shift.
Looking at the 4-hour chart, the XCN price recently bounced off a soft support area just above $0.0130. This isn’t the strongest support level we’ve seen, but it has held for several candles now, which is notable given how sharp the selling was earlier this month.
What makes this spot even more interesting is that it sits just below the 200-period moving average, currently around $0.01383. That line has acted like a ceiling for weeks, but now the price is testing it again.
If XCN can reclaim the 200 MA and close a few candles above it with volume, that could be the first sign that the trend is starting to shift. It doesn’t guarantee a full reversal, but it could open the door to a short-term bounce toward $0.015 or even $0.0165. Those levels have acted as resistance before and would likely be the next zones to watch if buyers step in.
On the flip side, if XCN fails to reclaim that moving average and loses support at $0.013, there’s a risk of another leg down. The next logical support area sits near $0.0125, and if that breaks, we could see a move as low as $0.011 or even $0.0098, especially if the broader market remains weak.
The RSI on the 4-hour chart is hovering around 37, which is close to oversold territory. That suggests the downside momentum might be slowing, at least temporarily. It’s not yet a buy signal on its own, but when paired with the support zone and proximity to the 200 MA, it’s enough to keep an eye on.
Right now, XCN is in a fragile spot. It hasn’t confirmed any trend reversal, but it’s also not breaking down further. The next few days will be key. If bulls can flip that 200 MA into support, things could start to look more optimistic. But if not, the grind lower may continue.
In short, XCN is struggling – but it’s at a technical crossroads. One clean move above the 200 MA could change the tone entirely. Until then, cautious optimism is the best approach.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
