The BigBC Finance, the YouTube channel, which includes more than 13,000 subscribers on YouTube, examines the current situation of ONYXCOIN (XCN), which was suffering from a decrease in prices despite the broader encryption market that shows signs of recovery.
The encryption market mostly draws a green image, with many major cryptocurrencies that spread great gains. SOI increased from Solana by 10 % over the past 24 hours, while Cardano, which ranked sixth by the market ceiling, was impressed by an increase of 12 %. Litecoin has been particularly strong, as it recorded approximately 25 % growth over the past few days.
However, the encryption analyst notes, ONYXCOIN highlights as one of the few few cryptocurrencies currently in red, which indicates a 3.5 % decrease. This declining trend lasts for weeks that starts after Xcn approached 5 cents. The price has repeatedly tested a strong resistance level, while maintaining a consistent declining style.
Why this XCN may be in good health
Interestingly, the analyst indicates that this decline in prices can already benefit the long -term expectations. The current market behavior of the short-term speculators is filtering effectively, allowing more long-term bearers-and referring to “diamond hands”-to “parking. The natural market mechanism can enhance the XCN standing base over time.
Despite the last decrease, Xcn’s performance remains impressive when width from a wider perspective. The distinctive symbol is still trading at about 10 times the price of January 13, which represents a significant growth even after the last decline. As Cryptotrader is noted, the current correction was relatively modest compared to the worst possible scenarios.
XCN Technical Analysis
The current resistance level appears to be behaved like its final boss in a video game, as described by Cryptotrader. The price has tested this level several times, and when it does not break – if it is – we can see an important upward movement that creates a new upward trend. While the timing remains uncertain, the artistic structure indicates strong potential for the upward movement once this resistance is overcome.
The analyst draws in parallel with the behavior of the XRP market. Historically, XRP often led market movements in this sector. In November 2024, XRP witnessed a 6X dramatic increase, while Xcn showed a more modest profit of 183 % during the same period.
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Currently, we see a similar pattern with XRP and other large payment infrastructure symbols like XLM and Hedra Hashgraph (HBAR) Positive movement appears while Xcn is backward.
Onyxcoin basic developments
In addition to technical analysis, CryptotRader highlights important basic developments. Onyxcoin recently launched the new Blockchain, to implement the treatment mechanism that gradually reduces the distinctive symbol supply.
Although this may not cause an immediate price procedure, it creates a long -term dynamic as the decrease in supply can lead to high prices if the demand remains stable or increased.
Xcn targeted for the long term
Cryptotrader maintains a long -term goal of 37 cents for XCN, expressing confidence in both the development team and a pregnant community. He believes that the team’s script is to issue information and develop it will ultimately benefit from the project growth.
This analysis indicates that although Xcn is currently suffering from a declining pressure, the mixture of technical patterns, market dynamics and basic developments can offer an attractive entry point for investors through a long -term perspective.
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