- XCN’s Fibonacci Retracing levels indicated clear price reactions at key zones. The prize recently cleared the return level of 0.618 ($ 0.01651), a critical hazard effect.
- XCN’s long/short conditions revealed fluctuating feeling among traders.
Onyxcoin (XCN) Has recently shown a strongly haus -like breakout, where the price has risen above important moving averages, indicative of a potential long -term trend.
With an imminent Golden Cross formation and strong Fibonacci -RetraCement levels that support further upwards, the traders look closely after confirmation of a continued rampant momentum.
Source: Tradingview
The XCN/USDT 1-hour diagram indicated a strong outbreak over 200-day SMA to $ 0.01638, which confirms raisage speed. The outbreak is in line with increasing trade volume, which indicates a strong market participation.
The price increased past 50-day MA, currently at $ 0.01597, which reinforced Hausse.
A golden cross is imminent as 50-day MA is about to cross over 200-day SMA. This rare but historically reliable haussearted signal can drive further speed. A series of higher lows formed at $ 0.01340, $ 0.01400 and $ 0.01450 strongly indicates the purchase interest.
If Golden Cross is complete, traders can see a pressure against the Fibonacci extension 1,618 to $ 0.02139.
Conversely, failure to maintain over $ 0.01837 may trigger a $ 0.01651 re -examination (61.8% Fibonacci retracing). A division below $ 0.01535 (38.2% Fibonacci) can annul the haus -like structure.
Confirm XCN’s Haussearted Move
Furthermore, XCN’s Fibonacci -Retracing levels indicates clear price reactions in key zones. The prize recently cleared 0.618 Retracing level to $ 0.01651, a critical hazard effect.
In addition, the 0.786 level of $ 0.01733 was broken, which supported continued upward movement. Merchant now the eye $ 0.02139, 1,618 extension, as a potential goal.
In addition, the MACD analysis supports this view. The MACD line at 0.00028 has crossed over the signal line at 0.00093, which confirms Hausse Divergens.
A steady increase in histogram bars indicates increasing speed. The stocastic RSI, which hovers at 65.68, strongly signals purchase pressure while avoiding over -bought territory. This leaves room for more upside.
If onyxcoin is returned, Fibonacci suggests $ 0.01593 (50%) and $ 0.01535 (38.2%). If these levels hold, the haus -like trend remains intact.
However, if sales pressure increases, a case to $ 0.01464 (23.6%) is possible. Currently, momentum indicators are still favoring price movement.
Do Onyxcoin bulls dominate?
Onyxcoin Long/short conditions Charts revealed fluctuating feeling among traders. Despite periodic nails with a short interest, long positions have remained dominant, especially during the latest sessions.
Source: Coinglass
The long/short relationship hovered around 1.00, which indicates equilibrium but with bulls slightly in control.
Historically, higher short interest rates coincide with local price bottoms, seen on February 27 and March 1, followed by strong upward reversings. The latest increase in Longs suggests confidence in further price estimate, in line with the technical outbreak above 200-day SMA.
If the Bulls maintain dominance, XCN can maintain its driving force against $ 0.02139. However, if short positions increase sharply, a temporary return to $ 0.01651 may occur before another rally.
The long/short relationship is still an important metric for assessing market confidence as the XCN approaches critical resistance levels.
In summary, Onyxcoin’s latest price measures signal strong haisse effect, with technical indicators that adapt to support further upwards.
The outbreak over 200-day SMA and the imminent golden cross indicate a structural change that benefits bulls. If XCN maintains support over key levels, a test of $ 0.02139 will probably remain.
