Onyxcoin price has been dropping over the past few days. The price took a hit over the past day, falling somewhere between 5.38% and 5.70%. Things look even worse when you zoom out – it’s down about 16% for the week, which suggests this isn’t just a temporary dip but part of a broader slide downward. Most people see this as bad news. The BigBC Finance Channel, a crypto analyst who has over 17 thousand subscribers on Youtube thinks this could actually be the setup for a major rally. Sometimes the best opportunities come when things look their worst.
XCN token is sitting right at an important support level. This isn’t just any support line. It’s been tested four times already and held each time. That tells you something about how strong this level really is. The BigBC Finance Channel points out that XCN is forming what’s called a falling wedge pattern. Two trend lines are coming together as the price moves down. When this pattern breaks to the upside, it usually means big moves are coming.
Short-Term Setup Looks Promising
The resistance level that matters most sits between $0.018 and $0.019. If XCN can break above this area, The BigBC Finance Channel sees it heading to around $0.03. That’s a 66% gain from current levels.
He’s also watching the MACD indicator on the hourly charts. It’s showing something called bullish divergence. The price is making lower lows but the MACD is making higher lows. This often happens right before trend reversals.
The 200-day moving average is sitting just below current prices too. Every time XCN has touched this level before, it’s bounced hard. The BigBC Finance Channel thinks this could happen again if the price drops a bit more. There’s also a Fibonacci level at $0.618 that’s acting as support. The BigBC Finance Channel notes that XCN seems to be finding its footing right at this level. If it holds, prices could start moving up toward that $0.018 resistance.
All these factors make The BigBC Finance Channel think now is a good time to buy XCN for long-term holders. The risk-reward looks favorable at these levels.
Why XCN Price Could Be on the Verge of a Breakout
The short-term setup is nice, but The BigBC Finance Channel is more excited about the longer-term pattern. XCN has been forming what he calls a bull flag since January. This is when a stock or crypto shoots up fast, then consolidates sideways for months.
The initial move took XCN up to around $0.05 in January. Since then, it’s been trading in a channel between strong support and resistance. The BigBC Finance Channel says this is textbook bull flag behavior.
If XCN breaks out of this larger pattern, the math gets really interesting. Bull flags typically project moves equal to the initial rally. That would put XCN around $0.107. From current levels, that’s about a 500% gain or 6x return.
The BigBC Finance Channel emphasizes that $0.018 is the key level to watch. A clean break above this area could trigger both the falling wedge and bull flag patterns at the same time.
For 2025, The BigBC Finance Channel has even bigger targets. He’s looking at Fibonacci extensions that put XCN between $0.17 and $0.33. The $0.17-$0.18 level matches the previous all-time high. The $0.33 level is his main target for next year. These numbers might sound crazy from current prices. But The BigBC Finance Channel points to several macro factors that could support such moves.
The altcoin season index is currently at 25. This means Bitcoin is outperforming altcoins by a wide margin. But when this index gets above 75, altcoins typically start their major runs. The BigBC Finance Channel thinks we’ll see this shift happen in 2025.
He also talks about the correlation between Bitcoin and global money supply. More liquidity in the system tends to flow into crypto. The money supply data shows continued expansion ahead, which should help all cryptocurrencies.
The total crypto market cap is forming a cup and handle pattern too. The BigBC Finance Channel thinks this points to a $10 trillion total market cap. That’s roughly 3x from current levels. If the whole market triples, individual coins could do much better.
XCN has already proven it can rally without broader altcoin support. The BigBC Finance Channel notes that it’s achieved significant gains during a period when Bitcoin has dominated. Imagine what could happen when altcoin season really kicks in. The fear and greed index is another metric he watches. When it gets above 80, it usually signals market tops. We’re nowhere near those levels yet, suggesting more upside is possible.
Read Also: Analyst Predicts Cardano (ADA) Could Increase 40x Before the End of 2025
The BigBC Finance Channel admits his targets are ambitious. But he genuinely believes XCN token has what it takes to reach them. The technical setup is there. The macro environment is supportive. And Onyxcoin has already shown it can move when conditions align.
For anyone considering XCN, The BigBC Finance Channel thinks current levels offer a good entry point. The downside seems limited given the strong support levels. But the upside potential could be enormous if his analysis plays out.
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