Onyxcoin (XCN) has recently shown growth, rising by 30% amid general activity in the cryptocurrency market. Let's explore what may lie ahead for XCN.
XCN Price Movement
The current price of XCN is around **$0.0182**, marking a significant rise from the **$0.013** range where it had been stuck for weeks. XCN has managed to break above the **200-day moving average**, which is at **$0.0155**, a positive sign for bulls. Now, the price is approaching resistance at **$0.019**, a level it has failed to break in April and May.
Competition with Other Cryptos
Despite the price increase, XCN has not garnered as much attention as other cryptocurrencies. **Stellar (XLM)** is up **90%**, reaching **$0.48**, **Hedera (HBAR)** surged **55%** to **$0.24**, and **Algorand (ALGO)** jumped **61%**, trading around **$0.28**. Compared to these moves, XCN’s **30%** gain seems modest, however, investors may find satisfaction in this increase after months of low volatility.
Future of XCN
If buyers break above **$0.019**, the next target could be around **$0.0215**. However, if sellers take over, a retest of the **$0.0155** zone is likely. Most likely, XCN will trade between **$0.016 and $0.019** until something significant happens in the market. If volume increases and momentum continues, a slow rise is possible.
XCN shows strong signs of growth, though it lags behind other cryptocurrencies in terms of momentum. The current support and resistance levels play a crucial role in the immediate future.
