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The Onyxcoin Rollercoaster Just Took a Wild Loop – Are We in for Another Dizzying Climb?

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Onyxcoin, that cheeky little digital critter, has just danced up more than 10%, poking its nose against the iron bars of a resistance level it strutted past during a 200%+ rally earlier this month. Could it be ready to fling itself into the stratosphere again, or is this just the crypto equivalent of a nervous twitch? 🤔

Currently, Onyxcoin (XCN) has thrown a party with a fresh 10% bump over the past day, flirting with a price tag near $0.020. Volume has decided to behave like it drank five espressos—surging over 100%. The price is trying to wiggle free from its cozy little range between $0.016 and $0.020, where it’s been camped out since it shot from $0.008 to $0.027 between April 9 and 11. That 237% shot was less “gentle rise” and more “bull charging through a china shop,” marking a break from a long, gloomy downtrend that followed a January parabolic frenzy.

Since then, Onyxcoin has been playing guardian above not one, but several moving averages—a veritable conga line of numerically named indicators (20-day EMA, 50, 100, and 200-day SMAs) that usually mean big shifts are afoot. Not only are these averages ordered bullishly, but the short-term ones have confidently strode past the longer-term ones like a boss—something traders call a “trend continuation signal,” or “the crypto market telling us it’s not done yet.”

The momentum metrics? RSI is lounging around 64.10, which means there’s still some juice left before we hit the dreaded “overbought” party zone. MACD is waving its arms enthusiastically above the signal line, and the histogram keeps painting the town green—though it’s calming down a tad, whispering “we’re just catching our breath here.”

The ATR (a volatility measuring gadget that counts how jittery prices are) is playing it cool and subdued. A calm ATR during a consolidation spell often means the bulls are just flexing before the next round, especially when both volume and moving averages are behaving nicely, as they are here.

Next up on the target list is $0.027—that magical level that was the high score during the April 11 rally. If Onyxcoin clears that, it might revisit the even loftier heights of January’s wild spike around $0.035—a 75% jump from today’s hangout spot. Should the bullish parade keep its momentum with louder crowds (that’s volume) cheering it on, the dream of $0.05—half a cent, a crypto symbol of psychological dominance—may not be far away.

But beware! If XCN tumbles below its $0.016–$0.020 safety net, especially with a noisy volume panic and a dumpster dive below the 20-day EMA, the whole bullish castle might be built on sand—indicative of a false breakout rather than a genuine charge.

Now, hold your judgment hats, because some traders are eyeing this recent Onyxcoin drama with a suspicious squint 🧐. Binance Futures listed XCN only after it skyrocketed 150% on April 11, with Coinbase rather hogging the volume spotlight. The price hit a wall after the Binance listing, leading to whispers of manipulation, shenanigans, and maybe a touch of crafty shorting by some bigger players who’ve been playing a sneaky game of “let’s spoil the party.”

Still, Onyxcoin is knocking on the door of its consolidation ceiling, hinting at another breakout party. Shorters might still be lurking, but as the price edges higher, their job just gets harder. After all, nothing ruins a bear’s day like a stubborn bull charging past them. 🐂🐻

Down only since binance future listing.. I wonder who shorting it! Dumb arrogant sheep will have to learn the hard way..$XCN #Onyxcoin

— …. (@ItsCryptoBruh) April 21, 2025

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2025-04-24 13:53

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