Onyxcoin’s Month-Long Price Crash To Deepen Amid 40% Surge in Holder Exodus?
Onyxcoin faces deepening price crashes as long-term holder exits surge by 40%, threatening the final major support level at $0.0050.Summary
Onyxcoin (XCN) price is in a steep downtrend, losing nearly two-thirds of its value between January 6 and February 6, and is currently exhibiting a bearish flag pattern breakdown on the daily chart, suggesting downside continuation.
On-chain data reveals an accelerating exodus of long-term holders; the net selling by wallets holding coins for over 155 days increased by about 40% between February 6 and February 9. While large wallets (whales) showed fragile confidence by slightly increasing holdings after a sharp drop, they are not aggressively buying back.
The critical defense level for XCN is the final major cost basis cluster near $0.0050, where nearly 3.9 billion XCN are concentrated. If this support fails, it could trigger cascading selling, confirming the bear flag breakdown and potentially leading to further declines toward $0.0025 and $0.0017. Recovery requires reclaiming $0.0057.
(Source：BeInCrypto)