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.
Sources
Onyxcoin (XCN) Surges 20% as Smart Money Signals Bullish Momentum
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