With the XCN price currently trading around $0.03 and experiencing a 13% decrease in the last 24 hours, crypto analyst C-Zar from the C-Zar Gets Crypto YouTube channel predicted the future movements of Onyxcoin. He addresses the question of whether the XCN price will continue to pump or dump.
C-Zar begins by discussing the recent market sentiment surrounding XCN, noting his disappointment that the coin has not reached a new high as he had anticipated. However, he remains optimistic, suggesting that the current consolidation phase might be shorter than previous ones, hinting at an imminent breakout.
Bullish Momentum vs. Divergence Risks
C-Zar noted that despite XCN price not reaching new heights, the daily chart’s Relative Strength Index looks “phenomenal,” indicating strong bullish momentum with higher lows and highs. He cautions, however, that the RSI, which is capped at 100, might not show further highs, potentially leading to a regular divergence scenario rather than a bullish continuation.
He reviews the risks, noting that even though a bearish divergence hasn’t been confirmed, XCN experienced a significant drop previously. The current support levels and past behavior suggest that the coin may be setting up for another growth phase rather than a significant decline.
4-Hour Chart Signal Bullish and Potential Breakout
Looking at the 4-hour chart, C-Zar identifies patterns of hidden bullish divergence, where the price lows are higher than the RSI lows, which he views as a positive sign. He also points out the formation of possible symmetrical triangles on various time frames, which have historically led to breakouts.
C-Zar expresses confidence that a breakout could occur either today or very soon, predicting a potential rise to between $0.042 and $0.05 if the movement remains controlled. In an explosive scenario, XCN price could reach new relative or all-time highs.
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Despite a recent 13% drop, C-Zar from C-Zar Gets Crypto remains optimistic about Onyxcoin, predicting a potential breakout with price targets between $0.042 and $0.05, or even new highs in an explosive scenario. While acknowledging risks and possible dips, his analysis of bullish signals and historical patterns suggests that XCN price may be gearing up for growth rather than decline.
