This Analyst Warns: Onyxcoin (XCN) Price Is About to Break Down – Here's Why He's Still Bullish

C-Zar Gets Crypto, a YouTuber with over 36,000 subscribers, has dropped another analysis on Onyxcoin (XCN). In a new video, the analyst warns that the price looks ready to break lower, but he’s not worried. Just like he said in his last analysis, he’s still fully committed to his position and believes this dip could be the perfect buy zone before a major move up.

In the video we covered yesterday, Thursday, May 4, C-Zar explained that the XCN price was forming a triple bottom, a pattern that sounds bullish but often leads to a breakdown. He also pointed out hidden bearish divergence on the RSI and several rejections at the 50 level, all suggesting weakness under the surface.

Now, one day later, he’s doubling down on that outlook. With XCN sitting at around $0.0167, he says the charts still look soft. The daily, 4-hour, and 1-hour RSIs are showing the same downward structure. He expects a move toward $0.0143–$0.015, where key Fibonacci levels and past support align. He thinks this breakdown could happen fast, within a few days, and may trigger a sharper push into the oversold zone.

Still Buying the Onyxcoin (XCN) Dip

Despite the bearish short-term setup, C-Zar is sticking to his game plan. Just like in his last video, he confirmed that his buy orders are already placed, specifically between $0.0144 and $0.0150. He says this is where he’s most comfortable reloading, and he’s not fazed if it dips even further.

His reasoning? XCN price has a history of fast recoveries. He believes that after hitting support, it could bounce back in just one day, potentially wiping out the entire drop and shooting past the current level. According to him, this isn’t the first time Onyxcoin has followed this exact playbook.

C-Zar also touched again on his longer-term targets. He’s still holding firm on his earlier forecast of a minimum 9x return from current levels, with upside scenarios pointing to 15x, 19x, or even $0.30–$0.40 by July. He emphasized that none of that has changed, despite the expected dip.

He also brought back his earlier comparison to the XCN/BTC chart, saying it remains the clearest signal for the next leg up. In his view, when XCN interacts with certain BTC ratio levels, it tends to mark local tops, and right now, that move hasn’t happened yet.

Finally, C-Zar pointed to the weekly RSI, where XCN price is sitting near the bottom of a bullish upward channel. He made the same observation yesterday, calling it one of the best zones historically for entries. To him, the structure is still bullish overall, this dip is just part of the cycle.

In both videos, his message is consistent: be patient, prepare, and don’.