Onyx Coin (XCN) has led this month’s rally but has also faced a notable pullback. Over the past seven days, XCN surged about 97% before giving back roughly 36% after touching $0.0130 on January 6. Despite the pullback, the bullish structure remains intact as buyers stepped in, keeping the price near the upper boundary of the flag.
Technicals show the 20-day EMA rising toward the 100-day EMA, suggesting a potential bullish crossover if momentum persists. The 200-day EMA remains a key long-term level; clearing it would strengthen the flag breakout case. The immediate hurdle sits near $0.0095, with a measured move targeting about $0.0130—roughly a 218% rally from the flag’s origin if validated. Support sits at $0.0083, with deeper support near $0.0069; a break below could undermine the setup.
On-exchange inflows peaked around January 6 and have since fallen from about 1.53 billion XCN to roughly 51 million XCN, signaling reduced selling pressure. Whales have been accumulating, and the overall balance remains constructive for a rally. The next move will hinge on how price reacts near the flag resistance and around the long-term moving averages.
Leave a Reply