- Onyxcoin jumps 39%, now hovering near $0.012.
- XCN’s daily trading volume explodes by over 613%.
The cryptocurrency market is trying to escape its bearish trend, rising more than 5.65%. Bitcoin and Ethereum have recorded notable gains, while Onyxcoin (XCN) has emerged as one of the gainers with a 39.46% increase.
Aiming for a steady breakout rally, Onyxcoin has chosen to trade on the upside. The active upside correction has triggered to break through crucial resistances between $0.00939 and $0.01147.
The asset has reached a peak of $0.0128. Before the rise of bulls, the asset traded within a bottom level of $0.008391. At press time, Onyxcoin traded at $0.01206, with the daily trading volume skyrocketing by over 613%, reaching $154 million.
Notably, XCN has registered a solid gain above 40% over the last seven days. The asset opened the week trading at around $0.008694 and slipped to its weekly low at $0.007631.
Will XCN Continue Its Bullish Streak?
The active XCN bulls could push the price above the $0.013 range. A steady recovery might pave the way for moving toward $0.01507, which reinforces the bulls. Price fluctuations ahead may shift the asset’s trajectory.
Contrarily, a rejection at the crucial $0.01289 resistance level might trigger the mighty bears to appear. A breakdown below this mark could push Onyxcoin toward $0.011, making the upturn more challenging.
The asset’s Moving Average Convergence Divergence (MACD) line has crossed over the signal line. This hints at a bullish crossover and potential uptrend. Besides, XCN’s Chaikin Money Flow (CMF) indicator at 0.13 infers that the money is flowing into the asset.
The Bull-Bear Power (BBP) value of 0.00367 suggests a slight bullish sentiment. Additionally, Onyxcoin’s daily relative strength index (RSI), positioned at 71.69, indicating the asset’s overbought condition.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Highlighted Crypto News
Solana Jumps Over 11%, Can the Momentum Keep Rolling?
