- Onyxcoin (XCN) value soared 16% because the altcoin outpaced friends.
- Positive factors for XCN got here as day by day quantity rose by greater than 600%.
- Most altcoins are buying and selling inexperienced on the day by day and weekly time frames amid risk-on sentiment.
Onyxcoin (XCN) is outpacing most altcoins prior to now 24 hours as curiosity within the token sends its value skyrocketing.
Consideration on the XCN coin has seen its value leap greater than 16% prior to now 24 hours, with quantity exploding a staggering 600%.
With Onyxcoin eyeing a probable itemizing on a significant alternate, its value may rally to new multi-month highs.
Onyxcoin value jumps as quantity explodes
The broader cryptocurrency market is experiencing notable optimism as Bitcoin’s resilience above $100k continues to spice up merchants.
Ethereum’s positive factors have additionally seen altcoins eye contemporary traction, as buyers look to diversify their portfolios past Bitcoin.
Whereas the concern and greed index, a key indicator of market sentiment, tendencies within the greed zone, small caps like Onyxcoin are constructing momentum.
Previously 24 hours, Onyxcoin’s value has surged greater than 16%, reaching $0.022.
The token traded at lows of $0.016. Amid this hyped efficiency, XCN has recorded a day by day quantity of over $210 million.
This outstanding efficiency has positioned XCN as one of many prime gainers within the cryptocurrency market.
Hypothesis a few potential Binance itemizing has the market in anticipation of contemporary positive factors, which is the case if bulls proceed to dictate sentiment.
“Crypto is leading the rebound. $BTC is nearing ATHs, $ETH is catching up, and with Coinbase set to join the S&P 500 on May 19, digital assets may see a fresh wave of inflows,” QCP Capital famous.
XCN value evaluation
Onyxcoin’s value motion seems to be bullish given the present motion and technical indicators. A have a look at the charts reveals there’s notable resistance round $0.023.
Nevertheless, above this, patrons might wish to push for a retest of the hurdle close to $0.030 and one-year highs of $0.35.
The Relative Power Index (RSI) and Transferring Common Convergence Divergence (MACD) indicators on the day by day chart align with this outlook.
If bulls handle to interrupt above resistance on the $0.023 degree, they might pull XCN to new multi-month highs and goal new positive factors.
Nevertheless, a dip to $0.016 may speed up promoting, with a possible breakdown that pulls costs to lows of $0.0084 reached in early April 2025.
The long-term descending development line gave means for latest positive factors, however bulls aren’t fully out of the woods.
Regardless of this, the large quantity coupled with broader market sentiment means that Onyxcoin could possibly be positioned for a brand new leg up.