Onyxcoin (XCN) Price Prediction: Will Volatility Drive Another Breakout?

The Onyxcoin price today is hovering around the $0.0191 mark, stabilizing after a steep surge to $0.0223 earlier this week.

Onyxcoin (XCN) price today is up 0.35% trading at $0.0191 after a busy week that saw the asset struggling to maintain momentum following a steep surge.

Earlier this week, Onyxcoin price rose to the $0.0223 range, marking a key resistance level. However, momentum cooled after the sudden spike pushed RSI into overbought territory.

Onyxcoin price action has managed to hold above multiple support clusters between $0.018 and $0.0186 despite a broader downturn in crypto prices.

Zooming into the 30-minute chart, the asset initially broke out of a descending wedge near $0.017 and posted a vertical move to the $0.022 range. However, the subsequent candle patterns suggest exhaustion.

Price is now moving in a sideways drift just above prior supply zones, facing headwinds from the descending trendline drawn from the peak.

This consolidation comes after high volatility on May 15, where XCN posted back-to-back long wicks on the 30-minute and 4-hour candles, indicating aggressive profit-taking.

Onyxcoin price pulled back nearly 15% from intraday highs, with RSI cooling to 46.9 and MACD showing a flattening histogram near the zero line—both signs of a stall in bullish momentum.

Rejection from $0.022 coincides with a confluence of resistances on the daily and 4H trendline, which further dampened the pace of this rally. The Ichimoku cloud on lower timeframes also shows price currently beneath the Tenkan-Sen and Kijun-Sen, hinting at bearish short-term pressure.

Key Levels to Watch in Onyxcoin Price Action

The key near-term resistance lies at $0.0202 (upper Bollinger Band), with a breakout above $0.0223 needed to resume the bullish push. Failure to do so could drag the Onyxcoin price toward $0.0183 and potentially test the rising trendline at $0.0178.

If $0.0178 breaks, a further move toward $0.0169 (trendline support) becomes likely.

On the upside, the bulls need to reclaim $0.0206 (4H Ichimoku Kijun-Sen) and flip the dynamic resistance into support. The daily chart shows the EMA-20 and EMA-50 still sloping upward, supporting the medium-term uptrend if price stabilizes above $0.018.

Notably, the Stochastic RSI has entered the oversold territory at 3.5, suggesting a bounce may occur in the next few sessions—especially if accompanied by higher volume and MACD crossover.

May 2025 Outlook: Will Volatility Drive Another Breakout?

May has so far been marked by Onyxcoin price volatility, driven largely by low-liquidity breakouts and technical squeezes.

The recent Onyxcoin price spike followed a textbook descending triangle breakout, but the retracement shows that bulls lack conviction to sustain above $0.022.

If bulls manage to hold the $0.0183–$0.0186 band and breach $0.0202 by mid-May, the next leg could push XCN toward $0.0231. However, any breakdown below $0.0178 would nullify this outlook and expose the coin to a drop toward $0.0160 or lower.

The previously discussed bullish wedge from early May has now morphed into a broader flag. The base of this move remains intact near $0.0169, aligning with the 200 EMA and past accumulation levels. While the recent spike tested the breakout potential, the asset remains at a critical inflection point.