Onyxcoin price surges 10% – is another 200%+ breakout in play?

Onyxcoin jumped more than 10% while it tests the resistance of its 200% + rally + earlier this month-could another parabolic escape be on the horizon?

Onyxcoin (Xcn) is up 10% in the last 24 hours, currently negotiating around $ 0.020, the negotiation volume 24 hours a day, increasing by more than 100%. Price action is now showing signs of a potential escape from the beach tight between $ 0.016 and $ 0.020, where it consolidated after an explosive movement between April 9 and 11 from $ 0.008 to $ 0.027. This 237% pump marked a decisive escape from a prolonged downward trend, which followed after a parabolic rally at the end of January.

Since this escape, the price has been held above the short and longer-term mobile averages, including the 20-day EMA, as well as the SMA 50, 100 and 200 days, signaling a major change in the market structure. Not only is the price above them, but they are starting to build up in a bullish order, the short-term mas crossing the Mas above the longer term, often a pioneer in the continuation of the trend.

On the momentum side, the RSI seated at 64.10, indicating that there is room for more upwards before entering the Surachat area. The MacD line remains above the signal line, and the histogram continues to print green, but with a certain flattening, which reflects a short-term consolidation rather than a loss of momentum.

The ATR remains moderate, which means that volatility is not explosive, so the current trend is durable. The ATR lower during consolidation after a break often precedes another higher leg, especially when the trend is supported by a strong alignment and medium mobile volume – what it is.

The following immediate objective is $ 0.027, where the price exceeded the rally of 237% on April 11. If this is erased, XCN could revisit the distribution range after the parabolic peak of January and reach $ 0.035, representing 75% compared to current levels. If the upward structure continues with an increase in volume, $ 0.05 could come into play, which was the top of the cut off in January and is also a psychological resistance (semi-cent).

The upward thesis would be invalidated if the XCN price was broken below the support area from $ 0.016 to $ 0.020, especially if it is accompanied by a peak of volume and a drop below the EMA of 20 days. Such a decision would suggest that the recent ascending impulse was a false escape.

Despite the clean graphic, some traders have called The recent shaded XCN price action, especially after Binance Futures listed XCN After He had already torn 150% on April 11. The volume exploded Jammingnot the binance, and the price stall Just after the list. This could mean that the rally was inflated artificially before the list, and after the beatenment broke down, the price was not continued up because the biggest players were annoyed.

However, the XCN price is now testing the upper limit of its consolidation range, referring to a potential break. While the short circuit could always Be at stake, it becomes more risky for bears as prices approach or break above the beach.