Onyxcoin (XCN) Gains Only 5% Despite Growing Bullish Sentiment Across the Broader Crypto Market

Despite the growing bullish sentiment across the broader crypto market, Onyxcoin (XCN) gained only 5% in the past week.

Despite the broader crypto market showing signs of growing bullish sentiment, Onyxcoin (XCN) managed to add only 5% to its value over the past week.

The altcoin is still facing difficulties breaking through the strong resistance levels, despite seeing a huge increase in trading volume today, surging by 77.7% to reach $82.3 million.

Momentum is certainly rising, with the RSI climbing and a golden cross forming. But not all signals are bullish, as the BBTrend is now showing weakness again.

Traders will be watching closely to see if XCN can manage to hold onto its breakout or if the bears will manage to take over.

XCN RSI Surges To 62 As Bullish Momentum Builds

Onyxcoin has shown a strong uptick in momentum, with its Relative Strength Index (RSI) climbing sharply from 46.15 to 62.29 in just two days.

This rapid increase signals an imbalance in buying pressure, suggesting that bullish sentiment is quickly gaining strength.

RSI is a widely used momentum indicator that ranges from 0 to 100—readings above 70 typically indicate overbought conditions, while levels below 30 suggest the asset may be oversold.

With XCN’s RSI now at 62.29, the token is nearing overbought territory but still has room to move higher.

Importantly, Onyxcoin hasn’t crossed the 70 threshold since April 23, highlighting that while momentum is building, it hasn’t yet reached levels that often precede a pullback.

If the RSI continues increasing, it could support further price gains, though traders will want to watch for signs of exhaustion.

Onyxcoin's BBTrend Turns Negative Again After Brief Recovery

Onyxcoin BBTrend indicator is currently at -2.69, reflecting a renewed weakening in momentum after a brief recovery. Between April 29 and May 8, the BBTrend remained negative, signaling a bearish bias during that stretch.

On May 8, the indicator briefly flipped into positive territory, peaking at 2.66—suggesting a potential trend reversal—but that move was short-lived.

In the last few hours, the BBTrend has reversed again, falling sharply from -1.41 to -2.69, reinforcing a return to bearish pressure in the short term.

The BBTrend (Bollinger Band Trend) is a technical indicator that measures the strength and direction of a trend based on the distance between price and the Bollinger Bands.

Positive values typically indicate upward momentum and a potential continuation of bullish price action, while negative values point to downward momentum and increasing selling pressure.

With XCN’s BBTrend now deep in negative territory, it suggests that bearish sentiment is regaining control. Unless the indicator flips back to positive soon, the current setup implies limited upside and the possibility of further price weakness in the near term.

Golden Cross Forms On Onyxcoin: Can XCN Break Through Resistance?

Onyxcoin (XCN) has just formed a golden cross—a bullish technical pattern where the short-term moving average crosses above the long-term moving average.

This development often signals the beginning of a potential uptrend. If momentum continues, XCN could soon test the resistance at $0.020.

A breakout above that level may pave the way for further gains toward $0.024, and if the rally sustains, the price could climb as high as $0.0273. Onyxcoin has been one of the hottest altcoins of 2025, having shot up by 118% in the last 30 days.

However, if the uptrend fails, key support levels could come into play.

The first area to watch is $0.0175—if that level is broken, XCN may decline to $0.0164.

Continued weakness could drag the price even lower to $0.0156.