Onyxcoin Price Eyes Breakout—XCN Holders Decide Its Fate | Airdrop Alert Pro

Onyxcoin (XCN) has been working hard to recover over the past month and now prices are at a critical level of support.

Altcoin’s price has been trapped in a downtrend, but recent market conditions suggest that this may be the point of reversal. If investors choose to take action, XCN may soon see a price breakout.

Onyxcoin investors are at a loss

Onyxcoin’s current MVRV ratio is -30%, indicating that investors who bought XCN in the past month are currently losing money. While this marks a bearish outlook, it also brings potential opportunities for future growth.

MVRV ratios usually form an “opportunity zone” between -10% and -30%, which suggests that sales pressures tend to be saturated at these levels. Historically, the accumulation of these low prices has proven to be beneficial when the market becomes bullish.

If investors seize this opportunity and accumulate progress, they will help stabilize prices and trigger future gatherings. This will allow investors to XCN price has recovered. As the MVRV ratio is still in the opportunity zone, the decision to take action by investors may affect the future of XCN price action.

In terms of macro momentum, the technical indicator MACD (Moving Average Convergence Difference) shows promising signs that the bearish phase may be approaching its end. MACD is close to a bullish crossover, which indicates a change in market sentiment. As broader market tips show signs of improvement, the transition to a bullish trend may be Becoming Onyxcoin.

The bullish crossover on MACD will provide a strong signal that the decline of XCN is about to end. This will encourage more buying activity, resulting in price increases. However, it is crucial for crossovers to happen, that the broader market conditions remain good and investor sentiment continues to improve.

XCN price requires strength

Onyxcoin is currently priced at $0.0168 and is trying to get rid of a one-month downtrend. this Altcoin Resistance is $0.0182 and this level needs to be violated to confirm its recovery. For any potential breakthrough, the key to maintaining a critical support level is the key to $0.0150.

If XCN manages to exceed $0.0182 and convert it to support, it may increase the price to $0.0237. This will trigger a new trend in recovery and establishing tokens. To this end, investor sentiment and broader market conditions must be strengthened. This will create a favorable environment for Onyxcoin’s price climb.

But, if XCN failed To maintain the $0.0150 support and continue the downward trend, prices may drop further. This will invalidate the bullish outlook. A drop below this support level can amplify losses, thus preventing short-term price recovery.