On the cryptocurrency market, OnyxCoin (XCN) price activity has caught traders' attention. This article explores current trends and forecasts regarding its dynamics.
Current Price and Market Trends
As of July 10, the price of OnyxCoin fluctuated around $0.01396. After a quieter trading period, signs of growth are appearing, attracting interest from some traders.
Analysis by YouTuber Czar Gets Crypto
YouTuber Czar Gets Crypto, with over 40,000 subscribers, broke down the charts for OnyxCoin in his latest video. He noted that the daily RSI appears strong, remaining above the 40 level, suggesting further upward movement potential. Analyzing the 1-hour and 4-hour charts, he pointed out that XCN's price has been flirting with overbought territory, but hasn’t fully pushed through yet. The latest price surge did not come with a surge in trading volume; however, previous spikes were backed by solid trading activity.
Price Movement Predictions
Czar believes the next target could be around $0.022 if the trend continues. He also mentioned a wider target zone between $0.021 and $0.025. If these levels are broken, more significant price movements could be possible in the coming weeks. In the long term, he sees a potential run towards $0.05 or $0.06 and possibly as high as $0.26 to $0.32 by the end of August if the momentum continues positively. He emphasized the significance of trading volume: for XCN price to push further up, an increase in trading volume is necessary.
In conclusion, the current price trends of OnyxCoin suggest the possibility of future growth. Key indicators, such as support at $0.014 and volume dynamics, may significantly influence the future movements of this cryptocurrency.
