11 Apr 2025 Morgan Hayze
Onyxcoin (XCN) On The Rise, Targeting A 3x Price Increase
After emerging from its consolidation phase, XCN has surged more than 50% in a single day, leading to optimistic forecasts of a possible 300% rise.
Source: CoinMarketCap
The native token of the Onyx Protocol, Onyxcoin, has increased by more than 50% to trade at about $0.021. After being trapped in a consolidation zone since the beginning of April, it has now emerged from it.
US President Donald Trump's tariff proposal earlier this week shook the macroeconomic mood and caused riskier assets, such as cryptocurrencies, to decline. Notably, the token has been trading in the $0.008–0.01 price range for the last ten days.
According to on-chain data, big XCN investors refrained from panic selling in spite of the decline. This indicates a growing level of trust in the fundamentals of the coin.
XCN is gradually making its way into the mainstream cryptocurrency market with a $362 million market capitalization and a ranking of 123rd per CoinMarketCap. The value of the token has increased by over five times since January.
The institutional-first approach taken by Onyx is partially responsible for this momentum. For financial players, the Goliath Mainnet provides bank-grade security, near-instant settlements, and simple smart contract integration.
Hedge funds and venture capitalists are drawn to the Onyx Points Program because it provides incentives with 10x liquidity awards.
Forecast for XCN Prices
XCN has broken through the middle Bollinger Band on the daily price chart and is now very close to the top band. This suggests that if purchasing pressure persists, there may be a price breakout.
Investors should keep an eye out for a significant rally that can target $0.0155 next, with a critical resistance mark at $0.0126.
In the meantime, the RSI is somewhat bullish but not yet overbought, sitting at 53.94, up from 48.81 the previous day. Additionally, this creates space for upward mobility.
Positive Forecasts
Prominent cryptocurrency expert Javon Marks claims that bullish divergences have started to appear across Onyxcoin's primary momentum indicators.
"The recent breakout may be the beginning of a steep rally that could push the price past $0.045, around 300% above current levels," he wrote in a recent X post.
Citing early indications of a broader wave formation in play, Marks floated an even more audacious long-term aim of $0.1816.
