Onyxcoin (XCN) Surges 20% Amid Bullish Institutional Accumulation
25.04.2025 15:20
Onyxcoin (XCN) has rallied 20% this week, driven by a noticeable increase in institutional accumulation. The Smart Money Index (SMI) for XCN has risen to 0.91, signaling strong interest from major investors. Technical indicators further support the bullish outlook, with a favorable MACD crossover and the price holding comfortably above its 20-day EMA at $0.017. Analysts note that if current trends persist, XCN could break through the resistance at $0.023 and move toward targets around $0.028, with potential to reach $0.033 if the support level solidifies. However, there remains a risk of short-term corrections should profit-taking intensify, which might lead to a drop below the EMA support.
The surge in XCN, evidenced by its 20% rally and rising Smart Money Index, indicates strong short-term momentum as institutional investors accumulate positions. In the immediate term, technical indicators like the bullish MACD crossover and robust 20-day EMA support suggest further upward movement, potentially pushing the price past resistance levels at $0.023 toward $0.028. However, an increase in profit-taking activity could lead to a short-term correction if sustained buying pressure diminishes. Long-term prospects remain positive if institutional interest continues, supporting an eventual climb in price over time.
Top Today
today / 16:34
Coinbase Launches Bitcoin Yield Fund to Attract Global Institutional Investors
Coinbase’s new yield fund for Bitcoin aims to attract global institutions with a cautious yet innovative approach to earning returns.
today / 15:59
Your $700 Investment Could Surge to $670K — Bitcoin, Solana, and MAGACOINFINANCE Draw Investor Attention
MAGACOINFINANCE’s early-stage bonus and pre-listing phase set it apart from mature assets.
today / 15:49
Tether Secures Over 7.7 Tons of Gold to Back XAUT Token
Tether’s report emphasizes robust gold reserves for XAUT and reaffirms its strategic bullish view on Bitcoin.