Onyxcoin (XCN) Price Doubles in a Week — Charts Show More Upside Left in the Tank

Onyxcoin (XCN) price has doubled in a week, rising nearly 52% in the last 24 hours. Technical analysis suggests this rally is supported by genuine buying interest rather than just leverage-driven short covering. Key indicators supporting this view include the price breaking above exponential moving averages (EMAs), suggesting an improving trend, and the On-Balance Volume (OBV) breaking a descending trendline, confirming conviction from buyers. Furthermore, the Chaikin Money Flow (CMF) indicator shows capital quietly flowing in even during previous price dips, reinforcing the current buying pressure. Derivatives data indicates a balanced leverage map, reducing the risk of a sharp squeeze reversal. The next critical test for XCN is resistance near $0.0095; a clean break could target $0.0110, while holding above $0.0084 is necessary to avoid a pullback to $0.0074.

(Source：BeInCrypto)