XCN has jumped over 30% in a day, breaking out of its consolidation phase and sparking bullish predictions of a potential 300% rally.
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
Onyx Protocol’s native token Onyxcoin XCN $0.0199 24h volatility: 1.6% Market cap: $660.71 M Vol. 24h: $287.07 M has surged by over 30% in the past 24 hours to trade around $0.011. It has broken free from a consolidation zone it had been stuck in since the beginning of April.
Earlier in the week, US President Donald Trump’s tariff policy rattled macroeconomic sentiment, pulling risk assets, including altcoins, down. Notably, for the past ten days, the token hovered between $0.008-$0.01 price band.
Despite the downturn, large XCN holders avoided panic selling, on-chain data reveals. This suggests growing confidence in the token’s underlying fundamentals.
With a market capitalization of $362 million and ranked 123rd by CoinMarketCap, XCN is slowly entering the mainstream crypto market. Since January, the token’s value has grown nearly five times.
Part of this momentum is a result of Onyx’s institutional-first strategy. Its Goliath Mainnet offers near-instant settlements, bank-grade security, and easy smart contract integration for financial players.
Incentive-wise, the Onyx Points Program offers 10x liquidity rewards, catching the attention of hedge funds and VCs alike.
On the daily price chart, XCN has pushed right through the middle Bollinger Band and is now approaching the upper band. This hints at a possible price breakout if buying pressure continues.
Investors should watch for key resistance level at $0.0126, with a strong surge possibly eyeing $0.0155 next.
XCN indicators | Source: Trading View
Meanwhile, the RSI sits at 53.94, up from 48.81 the day before, showing a slight bullish bias but not yet overbought. This also leaves room for further upward movement.
MACD is also showing early bullish signals. While still modest, the histogram is narrowing and a crossover could be imminent, supporting the case for a near-term rally.
XCN MACD indicator | Source: Trading View
According to popular crypto analyst Javon Marks, bullish divergences have begun to show across key momentum indicators for Onyxcoin.
In a recent X post, he stated that the recent breakout might be the start of a steep rally that could push the price past $0.045, around 300% above current levels.
$XCN (Onyxcoin) surging back here with MAJOR STRENGTH and by the displayed breakout as well as smaller bull divergences confirmed, another wave up above $0.045 can be coming in.
That is a nearly +300% increase from here and with a breakout target at $0.1816, higher could happen! https://t.co/Zz7cM7dJzE pic.twitter.com/6tu6cnHPhP
— JAVON⚡️MARKS (@JavonTM1) April 10, 2025
Marks floated an even bolder long-term target of $0.1816, citing early signs of a larger wave formation in play.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
