Onyxcoin (XCN) Price Prediction: Where Could the XCN Price Go in May?

The XCN price dipped 7% today and looks like it's going to finish this month slowly which is kind of expected

The XCN price slipped by 7% today and seems to be winding down this month, which is to be expected given that the token recovered nicely this month.

With this in mind, we asked AI to predict the XCN price for May as the token is now trading around $0.0185.

Where XCN Stands Now

XCN’s price trades at around $0.018 after bouncing back 80% in April from its $0.010 lows. Back in January, XCN saw a massive 18x pump that couldn’t last. February and March brought heavy drops.

Bitcoin is doing well at $94-95K, which usually helps smaller coins like XCN. The market feels mildly positive now, better than early April.

XCN recently launched new products like Goliath mainnet and Onyx Smart Wallet. These created some buzz, but the excitement is cooling off. The RSI dropped from 75 to 63, showing less buying pressure.

Some big traders are betting against XCN right now with negative funding rates. On-chain data shows that buying pressure is still fairly low.

Key price levels to watch are $0.0182 for support and $0.0237 for resistance.

Related: Why OnyxCoin (XCN) Might Be the Altcoin Everyone Regrets Ignoring

XCN Price Prediction: What May Could Bring

If Bitcoin stays strong or pushes toward $100K, and if people use the new Onyx Smart Wallet, XCN could keep going up.

The first target would be around $0.023-$0.025, about a 30% increase from the current price. If XCN manages to break past that level with good trading volume, it might reach $0.029-$0.032, which would be a 60-75% rise.

For this scenario to play out, Bitcoin needs to stay above $90K and the Smart Wallet needs to attract real users, not just hype. Additionally, trading volume needs to pick up.

However, if Bitcoin cools off or people get more cautious about smaller coins, the XCN price could lose steam quickly. It might drop to $0.0155-$0.016, which is a 10-15% decrease from the current price. If the selling pressure intensifies, XCN could fall further to around $0.0135, marking a 25-30% decline.

In a worst-case scenario- though this is unlikely unless Bitcoin experiences a significant crash- XCN could return to its April lows of $0.010-$0011. This scenario might arise if Bitcoin drops below $90K or if the Smart Wallet launch doesn't go as planned.

The recent price recovery seems to be driven more by trading activity than by people buying and holding XCN. This makes the price move more risky as the market mood could change quickly leading to a strong sell-off.