XCN Price Slips to $0.01708 After 200% Surge – What’s Next for Onyxcoin?

Following an incredible 200% Onyxcoin rise earlier this month, Onyxcoin (XCN) has entered a cooling period. The token is now trading at $0.01708, down more than 9% this week as of April 21. Although some early indications of stabilization give cautious hope, technical indicators indicate that a possible reversal may be imminent. Investors are eagerly monitoring whether XCN price can regain upward momentum or if a further fall is inevitable, since the Relative Strength Index (RSI) is in neutral territory and trend strength is decreasing.

Is Onyxcoin Losing Its Momentum? RSI Flashes Neutral Signal

Onyxcoin’s RSI is currently hovering around 43, indicating a neutral zone with neither overbought nor oversold conditions. This comes after a sharp Onyxcoin rally between April 9 and 11, where the XCN price surged from under $0.007 to over $0.021. Typically, RSI values between 30 and 70 suggest indecision in the market. A move above 50 would signal bullish control, but the failure to break that level reflects uncertainty. The question now is clear—is Onyxcoin losing its momentum as technical indicators begin to stall and recovery lacks conviction?

Despite the RSI’s neutral stance, there are flickers of recovery. Onyxcoin showed slight upward movement on the daily chart, hinting at potential buyer interest. However, without sustained pressure from bulls, this could be a temporary blip. The RSI alone doesn’t confirm a trend change, but its current position is worth monitoring for shifts in sentiment.

ADX Weakens While EMA Slopes Turn Flat: Is a Reversal Near?

The Average Directional Index (ADX) has dropped to 11, reflecting very weak trend strength. This is a significant decline from readings earlier in the month, when the ADX topped 15. For context, ADX readings under 20 often suggest a market lacking clear direction. In this case, it means the recent XCN price rally may be out of steam.

Chart 1: XCN/ADX, published on TradingView, April 22, 2025. 

While the EMA lines still appear in bullish formation, their trajectory is flattening. Short-term averages are starting to slope downward, a red flag that could precede a bearish crossover. This scenario, often called a “death cross,” happens when short-term EMAs drop below long-term EMAs, triggering a strong bearish signal.

Traders are closely watching key support levels at $0.016, $0.0139, and $0.0123. A break below these could push XCN price into correction territory, potentially sliding to $0.0109, marking a 38% drop from current prices. However, if bulls return, resistance at $0.020 is within reach. A break above that could ignite an Onyxcoin rally to $0.027, representing a potential 55% upside.

XCN at a Turning Point: Recovery or Prolonged Sideways Action?

With a market cap of $567.48 million and 33.2 billion tokens in circulation, Onyxcoin’s current position is fragile but not hopeless. The broader crypto market’s mood, shaped by Bitcoin and Ethereum performance, could heavily influence XCN’s direction. If sentiment improves and buyers reclaim control, the altcoin may find the strength to bounce back. Still, without a catalyst, the next few sessions could remain range-bound or slightly bearish.

What’s Next: XCN Price at a Critical Juncture

Onyxcoin’s rally was nothing short of spectacular, but the current indicators suggest a pause is underway. With RSI hovering neutrally, ADX signaling weak momentum, and EMAs hinting at a crossover, XCN is at a technical crossroads. The coming days will determine whether the token consolidates, corrects, or finds new momentum. Investors should watch support and resistance levels closely, as XCN’s next move could define its trajectory for weeks to come.