Onyxcoin (XCN) is down over 45% within the final 30 days, following a historic surge on the finish of January. After being one of the trending altcoins earlier this yr, XCN is now displaying indicators of cooling off.
Each momentum and development indicators level to weakening bearish stress, suggesting {that a} shift may very well be forming. Right here’s a take a look at the technical outlook and what may come subsequent for Onyxcoin.
XCN RSI Has Been Impartial For One Week
Onyxcoin’s RSI is at the moment at 41.7, down from a peak of 55.6 three days in the past.
The RSI has remained in a impartial zone for the previous week, fluctuating between 41 and 55, with out displaying a powerful bullish or bearish development.
The Relative Power Index (RSI) is a momentum oscillator that measures the pace and alter of value actions, starting from 0 to 100.
Readings above 70 sometimes point out overbought circumstances, whereas readings beneath 30 counsel oversold circumstances. With XCN’s RSI now at 41.7, it suggests delicate bearish stress however not sufficient to verify an oversold market.
This might point out that XCN is in a consolidation section, and merchants could also be ready for a stronger directional sign earlier than committing to a development.
Onyxcoin ADX Exhibits The Present Downtrend Is Fading Away
Onyxcoin’s ADX is at the moment at 8.33, dropping from 14.7 simply two days in the past.
This sharp decline indicators an extra weakening of development power because the token stays in a downtrend however with diminished momentum behind the transfer.
The Common Directional Index (ADX) measures the power of a development, no matter its path. Values above 25 point out a powerful development, and values beneath 20 level to a weak or non-trending market.
With XCN’s ADX now at 8.33, this implies that the continued downtrend is dropping steam. The worth may stay range-bound or expertise smaller actions till momentum returns.
And not using a pickup in ADX, merchants might even see continued sideways or uneven value motion within the brief time period.
Will Onyxcoin Reclaim $0.020 In March?
Regardless of being one of the trending altcoins in 2025, Onyxcoin value has corrected by 42% over the previous 30 days.
If this downtrend continues, XCN may retest the important thing assist at $0.01. A breakdown beneath this degree would mark the primary time the token has fallen beneath $0.01 since January 17, earlier than its main surge earlier this yr.
Nevertheless, as indicated by the weakening ADX, the present downtrend is dropping power, probably opening the door for a rebound.
If Onyxcoin regains momentum, it may problem the resistance at $0.0149, and a breakout may push the value towards $0.017. Ought to Onyxcoin recuperate its robust bullish development from late January, it may rise as excessive as $0.022, breaking above $0.02 for the primary time since March 3.
Disclaimer
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