Onyxcoin Price Surges 16% as Analyst Predicts Potential 546% Rally

Highlights:

• The price of XCN has increased by 16% to $0.019.
• A crypto YouTuber has predicted a potential 546% surge to the $0.13 mark in XCN price.
• XCN technical indicators show a potential surge to the upside, as the bulls target the $0.022 resistance. 

Onyxcoin has increased by 16% to trade at $0.019, as the bulls still dominate. The recent price increase is accompanied by the trading volume, which has soared 564% to $207M. This recent development signals intense trading activity in the XCN market. Moreover, the crypto market is showing bullish signs, which could also propel other tokens, such as XCN, to the upside. 

Onyxcoin Price Outlook

According to the daily chart in Onyxcoin, the XCN price has pushed into a consolidation channel. Currently, the token is oscillating between $0.015 and $0.022. A consolidation channel often acts as an accumulation phase. If the bulls accumulate within these levels, they may spike out in a bullish move towards $0.022 in the short term. 

Moreover, the bulls are showing splendid bullish muscle, as they have flipped above the $0.0115 and $0.0161 areas, aligning with the 200-day and 50-day MAs. This indicates a strong upside, tilting the odds towards the bulls. If the support levels hold, the Onyxcoin price could break above the $0.022 mark.

Meanwhile, a well-known YouTuber has predicted that the XCN price could move by about 546% to $0.13. According to his analysis, the XCN price could attempt to break through the major resistance at $0.022, which has been tested previously. A break above the level will spike a 546% surge towards the $0.13 mark.

🚀 ONYXCOIN XCN LAST CHANCE! THIS IS ABOUT TO HAPPEN! #onyxcoin #xcn #xcn… https://t.co/ItUs32V5OJ via @YouTube

— crypto gym (@SSeparately) May 16, 2025

Meanwhile, the XCN technical indicators are upholding a bullish outlook. The Relative Strength Index has hit the 56.69 mark, indicating a growing buying appetite. Further, there is still more room to the upside before the XCN price hits the 70-overbought zone. Meanwhile, traders and investors are at liberty to keep accumulating XCN tokens. 

XCN Derivatives Data

CoinGlass data shows increased trading activities, painting the XCN market as bullish. XCN’s volume has increased by 1349% to $278M, suggesting heightened market activity. On the other hand, open interest has soared by 94% to $21M, indicating that traders are opening new positions, and hence, new money is flowing into the market.

Additionally, the XCN long-to-short ratio is showing intense bullish momentum, as it has passed the 1 mark. These recent developments could soon cause a rally in Onyxcoin price to higher levels, above $0.022. 

On the downside, if the bears regain the ground and the crypto market turns negative, the Onyxcoin price could drop. In such a case, the $0.017 mark would act as the immediate support zone, absorbing the potential selling pressure. Increased bearish momentum may push the XCN price to $0.016. A break below this mark may tilt the odds towards the bears. In the meantime, the traders should pay close attention to technical indicators and surging trading volume. These may help determine the next price movement for Onyxcoin.