Onyxcoin (XCN) Price Soars 15% to Trade at $0.01916, Trading Volume Explodes 527%

The Onyxcoin price surged 15% in the past 24 hours to trade at $0.01916 as of 4:52 p.m. EST, with trading volume skyrocketing 527% to $196 million.

Onyxcoin (XCN) price surged 15% in the past 24 hours to trade at $0.01916 by 4:52 p.m. EST, with trading volume also skyrocketing 527% to $196 million.

The surge in XCN price pushed the crypto to the top of CoinMarketCap’s trending list.

Top trending tokens on CoinMarketCap (Source: CoinMarketCap)

Onyxcoin Price Recovers, Aims For A Breakout

XCN price is currently consolidating inside a descending triangle pattern, a generally bearish formation that consists of a series of lower highs (A-C) and a relatively flat support level around $0.01000 (B-D).

This pattern suggests that sellers are becoming increasingly more aggressive while buyers continue to defend a key support zone.

The triangle structure has been forming since the large spike in early 2025, after which Onyxcoin price action began to compress downward into the apex of this triangle. The formation is very clean, with clearly defined touches on both the descending resistance and horizontal support.

Onyxcoin price is trading slightly below the most recent swing high (C), indicating that bulls are attempting to push above the descending resistance once again, according to data from GeckoTerminal. However, until a breakout occurs, the overall structure remains bearish.

Meanwhile, XCN is trading above both the 50 Simple Moving Average (SMA) on the 3-day chart ($0.01497) and the 200 SMA ($0.00496), which is a bullish divergence from the typically bearish implications of a descending triangle.

Additionally, the Relative Strength Index (RSI) stands at 55.87, a neutral-to-slightly bullish level. It shows momentum shifting gradually toward buyers without reaching overbought levels. This positioning leaves room for a breakout to the upside if momentum accelerates.

The Moving Average Convergence Divergence (MACD) line (blue) has also crossed above the signal line (orange), with green histogram bars building. This bullish crossover is an early indicator of strengthening positive momentum.

XCN Price Prediction

If buyers manage to push the XCN price above the descending resistance line (around $0.22–$0.24), then this breakout could invalidate the bearish pattern and spark a short squeeze-style rally.

In this bullish breakout scenario, potential targets include the $0.30–$0.35 zone, based on the measured move of the triangle’s height added to the breakout point.

However, if the Onyxcoin price fails to breakout and falls below the key support at $0.01000, then it could trigger a sharp downward spiral.

The breakdown target in such a case could lie around $0.00500–$0.00600, in line with the triangle height subtracted from the support level, and close to the 200 SMA.

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