Onyxcoin (XCN) attracted attention after a huge monthly increase, despite the experience of short -term decline. The distinctive symbol has decreased over the past 24 hours, yet analysts believe that this is a potential purchase opportunity.
Over the course of last month, Xcn recorded a profit of 1600 %, which paid speculation about its long -term course. The encryption analyst Ahmed described from YouTube Youtpop with the market’s feeling as “very bullish” heading to February.
Participants and analysts in the market monitor a possible rally towards a mark of $ 1. “Analysts and people alike are trying to shoot the XCN 1 dollar icon, and I do not think it is outside the table,” Ahmed stated, pointing to the wider market trends.
While optimistic about XCN capabilities, He personally set a goal for less, and called for a more conservative approach. The distinctive symbol has an area to increase 30-40X, especially with the upscale stimulus.
Historical trends support this view, as Xcn recently penetrated the 640 -day resistance trend, indicating the transformation of the market. The icon rally of 1500 % in January paid prices to the highest levels in nearly three years. Xcn has previously reached the highest level ever at $ 0.18 in 2022, and Ahmed believes that the distinctive symbol can exceed this range if the momentum continues.
The upcoming developments on ONYXCOIN may pay the main procedures for the price
Onyxcoin road map includes the main developments that can affect its evaluation. ONYX team announced that the Open Index Protocol (OIP) is scheduled to be launched on February 1.
In addition, ONYX solved problems with Huobi and Tron’s Justin Sun, which led to the introduction of Xcn Stokeing. Ahmed also highlighted the potential importance of the upcoming ONYX XCN book, and compared to the launch of the Professor XRP book.
“This could be a huge here … We have seen what happened when Xrp Ripple Labs announced the professor’s book.” Also, the institutional interest grows, with XCN insurance List on kraken The futures contracts are trading with 20x financial crane.
XCN Prices: The main support levels and perfect entry points
Despite its equivalent growth, Xcn is still vulnerable to short -term corrections. Fibonacci’s re -imitation indicates a possible withdrawal to support levels between $ 0.026 and $ 0.032. Analysts suggest that the current declines are expected after this rapid climb.
For traders who seek to get optimal entry points, AHMED select short -term resistance at $ 0.051 and support at $ 0.023. He stressed that the average cost in dollars is the most secure strategy rather than trying its lowest levels in the market. The goal of its short -term price remains at 0.18 dollars, which represents a 6X increase in the current levels.
As the bullish momentum continues, Xcn can approach one dollar threshold, but Ahmed recommends strategic profit for risk management effectively.
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