Onyxcoin Price Rises 18% With 37% Volume Spike as Analyst Predicts a Rally to $0.27 Mark

Highlights: 

• Onyxcoin price has soared 18% to $0.0245 as bulls show renewed strength.
• The trading volume has spiked 37% to $288.46M, indicating increased market activity.
• According to an analyst, the XCN price could hit the $0.27 mark if the volume keeps rising.

Onyxcoin price has gone ballistic, surging 18% to $0.0245 as the crypto market recovers. The spike in interest has seen the trading volume soar over 37% to $288.46 million, indicating heightened market activity. Meanwhile, ONYXDAO recently increased staking rewards to 37.28%, with no lockup period.

The @OnyxDAO recently increased staking rewards, there's also no lockup period 🔓 Stake below 👇https://t.co/mIaicMgdP9 pic.twitter.com/UhuGTy9LK5

— Onyx (@OnyxDAO) February 13, 2025

Further, Parent Capital Investments has noted via the X platform that Onyxcoin price shows a bullish continuation. The token is “Threading the 8,” whereby the price continues to bounce along and above the 8MA indicator. The analyst added that the volume needs to remain high for the XCN price to reclaim the $0.27 mark. 

$XCN showing bullish continuation, doing what we call "Threading the 8"(price continues to bounce along and above the 8MA indicator) *MA has crossed back over the 21MA. We need volume to remain though as well. next support to reclaim .027 https://t.co/YraNMh9YME pic.twitter.com/JScRP8J9fi

— Parent Capital Investments (@17MrScottie) February 13, 2025

XCN Statistical Data

Based on CoinmarketCap data:

• XCN price now – $0.0245
• Trading volume (24h) – $288.46 million
• Market cap – $801.55 million
• Total supply – 48.4 billion
• Circulating supply – 32.59 billion
• XCN ranking – #87

Onyxcoin Price Poised for a Rally to $0.0442 Mark

Onyxcoin has exhibited a notable price increase at $0.0245 after a sharp downturn. The daily chart reveals a compelling narrative as the price surges 17.08%. The price action suggests a potential recovery, but confirmation will depend on its ability to sustain momentum above key support levels. Further, the 50-day moving average ($0.0150) trades above the 200-day moving average ($0.0049). This positioning indicates that the bullish momentum is still intact

The chart shows strong support at $0.0202, which aligns with the 50-day MA. If this level holds, it could provide a foundation for the next upward movement to the $0.0366 resistance zone. A successful break above this level could pave the way for a retest of $0.0442.

On the downside, support at $0.0202 provides the first line of defense against further declines, serving as a historical pivot point. If bearish momentum intensifies, Onyxcoin price could seek support near $0.0150, a region previously acting as a strong demand zone, aligning with the 50-day MA. A more drastic downturn may drive the price toward $0.0118, potentially testing investor confidence. 

Onyxcoin price has shown signs of renewed bullish momentum, with buyers pushing the price toward higher levels above the falling channel. If this upward pressure continues, XCN could attempt to reclaim the $0.0442 mark. 

Technical Indicators Show Mixed

Technical indicators suggest strengthening momentum, and the increase in trading volume may ignite further upside. The broader market sentiment, particularly Bitcoin’s performance, could also be crucial in XCN’s ability to sustain an uptrend. Should Onyxcoin maintain its current trajectory, a move toward $0.0442 seems increasingly plausible.

The RSI at 52.69 shows a strong recovery, as its position above the 50-mean level could resume the buying pressure in the market. Traders should monitor whether XCN can sustain its current rebound, as failure to hold above $0.0.0150 may signal a deeper correction before any sustainable uptrend takes shape.

Despite the bullish outlook, the MACD indicator sits below the orange signal line, indicating some bearish sentiment. If the bulls don’t increase their buying appetite and call for traders to rally behind XCN, the Onyxcoin price could dwindle.