Onyxcoin (XCN) Surges 20% Amid Bullish Institutional Accumulation

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.