Onyxcoin's Big Rally Stalls—What’s the Next Big Move for XCN?

Onyxcoin did a little dance between $0.02 and $0.0255 after its crazy run.
The CMF was still throwing tantrums, showing that the selling pressure wasn’t going anywhere.

So here we are, folks. Onyxcoin [XCN] pulled off a jaw-dropping 22x gain from January 1st to the 26th—talk about a wild ride! But as they say, what goes up, must come down. After all that glory, it’s taking a breather.

Don’t panic just yet, though. The long-term outlook still has a bit of a shine. Maybe it’s time for the market to catch its breath before heading back into the wild unknown.

Is $0.02 the Perfect Spot to Pile on More XCN?

Based on the glorious rally from $0.0111 to $0.0499 (I mean, really, who wouldn’t want that?), we decided to plot out some Fibonacci retracement levels. Guess what? The 78.6% level at $0.0194 is still hanging on like a stubborn cat to a scratching post. It’s holding as support for now.

That rally we’re all drooling over started after a little consolidation above the $0.01 mark back in late January. It looked promising—at least, until the winds turned and the downward trend showed up uninvited.

At this point, the higher timeframes are still showing a bullish trend. Think of it as a brief nap before the next leg up. A pullback never hurt anyone, right?

But wait, don’t rush to the buy button just yet. The CMF and MACD are singing a different tune. The CMF at -0.25 is flashing red, signaling that the bears are still in control. The MACD? Yeah, it’s struggling to keep up. It’s like a bad reality show—no one’s really winning right now.

If the MACD crosses below the zero line? Buckle up—it’s a downward momentum party.

The 4-hour chart is showing us something else. XCN might be done with its pullback for now. We’re seeing a range between $0.02 and $0.0255—basically, a market trying to decide what it wants to be when it grows up.

But hey, the market structure is still a bit of a downer. No new swing highs or lows in the last two weeks? Yikes. The CMF briefly popped above +0.05 but quickly went back into hiding, like a timid mouse.

The MACD’s chilling at neutral, just like that one person who shows up to a party and stands by the snacks. No major moves happening here either.

Now, this is interesting: the liquidation map shows that the $0.02-$0.021 region is a hot spot for long liquidations. It’s like the bulls are throwing a party, but no one’s showing up.

So, what does this mean? With the CMF still whining and weak momentum, we could see XCN dip back to $0.02 before it gets its act together and heads back up. There’s liquidity waiting there—kind of like that comfy chair you always go back to in the living room.

2025-02-17 00:10

Onyxcoin’s Big Rally Stalls—What’s the Next Big Move for XCN?

Is $0.02 the Perfect Spot to Pile on More XCN?

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