Onyxcoin price today: How high can XCN rise?

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  • The recent price movement of XCN is remarkable.
  • In the past seven days onyxcoin has increased by more than 150 %.
  • its market capitalization has more than doubled and is now around $ 700 million.

Onyxcoin (XCN) again makes headlines after an explosive increase that has increased by over 60 % in the last 24 hours.

The altcoin has officially achieved the top 100 cryptocurrencies after market capitalization, which indicates again again.

Da XCN gains in traction, many dealers are wondering: How high can it increase?

Funish massive weekly profits hype by xcn

The recent price movement of XCN is remarkable.

In the past seven days onyxcoin has increased by more than 150 %, with the majority of these profits being achieved in the last 48 hours.

its market capitalization has more than doubled and is now around $ 700 million.

xcn price diagram of coinmarketcap

This rapid growth reflects a fundamental change of mood, especially after the former President Donald Trump has announced a temporary break at Zöllen for most countries, which reduces the broader economic uncertainty.

It is remarkable that the trading volume of XCN has exploded. The daily volume has tripled in just three days, which is an increase of 200 %.

Last week the trade activity increased by an impressive 1,200 %, which means that onyxcoin has moved larger names such as avalanches (AVAX) in terms of trade interest.

This dramatic increase in volume is often regarded as an important indicator of strong market support.

XCN price forecast: What's next?

In view of his current momentum, analysts believe that XCN could test higher levels of resistance if the bullish conditions last.

In view of his current momentum, analysts believe that XCN could try to test higher resistance areas again.

If the purchase pressure stops, XCN could strive for a short-term goal between $ 0.025 and $ 0.030, depending on the broader market trends.

If, however, if you use profit treatment, a healthy correction could bring the price back into the area of ​​the important support of around 0.018 to $ 0.020.

on a longer time scale, if onyxcoin maintains its active trading volume and the positive market substance, there is potential for tokens, earlier maximum volatility to reach again.

dealers, however, should keep an eye on the price developments of Bitcoin (BTC) and Ethereum (ETH), since the performance of XCN could be sensitive to movements in large assets.

invest

While the recent increase is exciting, it is important to remember that investments in cryptocurrencies have considerable risks.

The prices can be extremely volatile, and although XCN points great potential upwards, sudden reversal is always possible.

Always carry out your own research (dyor) and consider consulting a financial advisor before making investment decisions.

The breakthrough of onyxcoin illustrates how quickly the market dynamics in the world of old coins can change.

with increasing volume, a relaxing market environment and growing interest of investors, XCN seems to be ready for further movements.

, however, it is crucial to stay informed and careful to find your way around in the unpredictable crypto landscape.

The article onyxcoin price today: How high can XCN rise? first appeared on coin journal.