Onyxcoin Price Jumps 22% – Strong Demand Signals More Upside
In the past 24 hours, ONYXCOIN (XCN) has soared by 22 %, making it the best asset in the cryptocurrency market. The rally began last week and got motivation after announced that the project resolved the problem of Huobi and TRON founder Justin Sun.
XCN is now paying attention to its three -year high 0.04 US dollars, and technical indicators marked a strong potential.
ONYXCOIN saw a new income
Apart from Wide market rallyThe price of XCN rose to a large extent by the recent promotion announcement That ONYX road HTX Global and Justin Sun successfully solved a long -term problem. The price of XCN rose to $ 0.03 at a price of $ 0.03. Since then, the price of XCN has increased by 76 % with the increase in demand.
Its relative strength index (RSI) The evaluation was performed on the day’s map to confirm that this demand continued to grow. When pressing, the key momentum index is in the upward trend of 64.78.
This indicator measures the market conditions with excessive assets. Its range is between 0 and 100 and the value is higher than 70, indicating that too much assets and correction. Instead, the value below 30 indicates that the assets are exceeded and may witness the rebound.
At 64.78, XCN’s RSI This shows that assets are in a strong bullish stage and increased purchase pressure. As RSI continues to rise, the demand of XCN is growing. Unless it is close to too high, the momentum may continue.
It is worth noting that XCN has recorded spot flow for the first time since January 27. According to Coinglass, the current price is 1.04 million US dollars, reflecting the purchase activities in the market.
When the spot of asset records flows, more and more traders are directly purchased on the exchange rather than through derivatives, which indicates that the demand is strong. As more and more investors accumulate assets, this increased purchase pressure usually increases prices.
XCN price prediction: Is the goal of $ 0.04 or facing reversal?
Daily charts show that the resistance of XCN transactions is less than $ 0.038. If the purchase momentum is enhanced, it may exceed the price level.
Successfully violated resistance Can promote XCN to $ 0.049, which is a three -year high on January 26.
However, if the market participants resume their profits, the bullish thesis should be invalid. In this case, the value of XCN may be reduced to $ 0.021.
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