Onyxcoin (XCN) Is Pumping: Here's What Just Triggered the Surge

Onyxcoin is back in the spotlight after a major price jump that has crypto traders talking. In just two days, XCN price surged over 31%, breaking through some key resistance levels

Onyxcoin (XCN) is back in the spotlight after a major price jump has crypto traders buzzing. Over two days, the price of XCN surged more than 31%, breaking through some crucial technical levels and setting the stage for what could be a broader uptrend.

YouTube analyst C-Zar Gets Crypto, known for his technical analysis and lively commentary, broke down the key developments in a recent video. With over 35,000 subscribers following his insights, C-Zar highlighted the breakout from two major Fibonacci retracement levels at $0.0202 and $0.02035.

This breakout is significant as these levels posed resistance in the past. Now that XCN is trading above them, it opens up the potential for a continuation of the rally.

Additionally, C-Zar pointed out the formation of a classic bull flag, a technical setup that often signals a continuation of a prior trend. In this case, the implication of the bull flag is further upside for XCN.

According to his analysis of the flag pattern, he believes the price of XCN could be setting sights on the $0.056 to $0.057 range in the coming days. This would represent a substantial move from current levels.

However, even with the promising setup, C-Zar didn’t shy away from warning about potential dips. He noted that after such a sharp move, it’s normal to see a short-term pullback. In fact, he wouldn’t be surprised to see XCN dip below $0.01800 again before making another push higher.

He estimates any correction could range between 7% and 22%. While that magnitude of move can be unnerving, C-Zar framed it as a healthy shakeout that could offer buying opportunities for those who missed out on the initial rally.

Furthermore, he recognized the long-term holders who have endured through the lows are finally beginning to reap some rewards. C-Zar acknowledged the community for their resilience, especially in the face of criticism and FUD.

He brushed aside any remaining Ponzi accusations as misinformed noise and praised those who stood by their belief in the project’s fundamentals.

For new buyers considering joining in now, C-Zar had a clear message: don’t FOMO in blindly. If you can stomach a 20% drop, then this might still be a good entry point. But if you’re the type to panic sell during a dip, it might be better to wait and see how things settle.

Looking ahead, C-Zar anticipates the rally to continue, potentially pushing XCN past $0.0500 before the end of May. Whether the move happens over the weekend or early next week, he believes the momentum is strong enough to carry the price higher.

His final thought was a reminder that this could be one of those rapid altcoin runs where prices tend to swing broadly in both directions. For those already in the trade, it’s time to stay focused and prepare for whatever the market throws next.