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Crypto News

This is the reason for pumping the price onyxcoin (xcn)

ONYXCOIN (XCN) returned to the spotlight today after jumping over 7 % in the price, making it the distinctive symbol in the market. In writing, the Xcn price is traded around $ 0.01991. But this is an evolution: while the price climbs, the trading volume decreased by 38 %. This has sparked some eyebrows, and the encryption community explodes with theories about what is really behind this step.

On X (previously Twitter), some of the accounts have indicated well. One of the users, Oxe, indicated that millions of dollars flow to XCN. They also mentioned their followers that the Chain 1 Mainnet Layer 1, supported by XCN, is still ready to launch this quarter, which could be a major driver behind the price movement.

Also read: Why can buy ONDO codes less than one dollar “gift”: ONDO price analysis

Meanwhile, the Jinxf market informed some wild nails in the past two days and suggested that there is a big thing that might be on the horizon. They have put forward the idea of ​​Binance’s potential menu, indicating that the insiders may actually behave on it.

Distinguish another post from the corrupt bank on CoinMarkcap A big leap on Coinbase, from $ 25 million to more than $ 600 million in just two weeks. This post also mentioned some of the upcoming developments such as SXCN, a liquid feature, and OIP-56, which would bring voting on gas-free governance on the table.

All these clues add up to an increasing feeling that something is brewing for Xcn, and merchants began to note.

Technical indicators show a standardization style for XCN price

According to the last graph analysis, Xcn is traded within a similar triangle after a strong outbreak in early April. This style usually reflects the market decline, with the pressure of the onyxcoin prices between the close trend lines. The collapse can open above $ 0.0215 the door to $ 0.025 and possibly higher levels.

source: Tradingvief.com

The symbol also remains higher than the simple moving average for 50 days (SMA), about $ 0.01658, which turned against the support resistance. The relative strength index sits at 53.96, which reflects a neutral momentum, while the price continues to circulate a little less than the upper resistance of the sorry.

The development road map is still a major axis

The XCN ecosystem is expected to offer several updates soon. Among them is the launch of Goliath Mainnet, a strategic step towards expanding benefit and performance. Other features of development include a mechanism for liquid formation and improved governance features, designed to increase network participation.

While the official confirmation is still suspended in any exchange lists, speculation about the possible Binance spot list revolves widely. Traders and observers see these developments for more assurances that may affect future prices.

At the present time, watch the market Concious to see if the Xcn price can exceed the current Resistance ranges between $ 0.021 and $ 0.022. Failure to do this may re -test the support area near $ 0.0165. Price behavior around these levels may determine the next main step for the distinctive symbol.

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