XCN Crypto collected almost 36% in the mid -exchange lists and hype around upcoming product launches in the past day.
Onyxcoin’s token (XCN) rose to an intraday highlight of $ 0.0394 and pushed its market capitalization to more than $ 1.16 billion from the last check on Thursday afternoon, Asian time.
Today’s rally extended the weekly profit from Altcoin to more than 195%, while the monthly profit rose after 1400%, making it one of the best-performing crypto assets in the last 30 days.
XCN’s Rally was accompanied by an increase in demand and trading activity. In the last 24 hours, Altcoin’s daily trade volume rose by 60% to more than $ 627 million, while the open interest in its futures market rose 73% to a record height of $ 38.98 million per Coinglass.
Why is XCN going up?
XCN Stegen after Onyx plagued The upcoming white paper and the launch of his new blockchain, the Onyx XCN whides. Crypto assets usually tend to gather for important announcements that support the growth of the ecosystem.
Furthermore, it was recently token stated On Kraken Pro, so that users can trade XCN with a maximum of 20x leverage.
In addition, the official account of Onyx shared That it was nominated for the list on Binance Next Pool, with which users can predict which tokens will be mentioned on the Futuresmarkt of Binance.
Crypto exchange Ascendex has that too announced Plans to mention XCN, which has further strengthened the Bullish Momentum.
Investors’ question to XCN also rose after the XCN community passed OIP-52 After solving long-term problems with HTX Global and Tron founder Justin Sun. The proposal to be deployed will play an active role in Onyx Dao Governance.
“This OIP will improve the Onyx protocol through the expertise, experience and credibility that Justin Sun and HTX spend their participation in the DAO,” is part of the proposal.
XCN Technical Analysis
The XCN price has become parabolic on the daily graph and it has been placed above the progressive averages of 50 and 200 days, which means that the purchasing pressure has still risen. Usually, when the 50-day MA is also above the 200-day MA, assets tend to continue their meeting in the coming days.
The MacD lines point upwards, while the super trend line remains below the price of the active, both signs that the upward trend remains strong. Although the Chaikin Money Flow Index remained positive, which suggests a continuous intake of capital into the XCN market.
However, the relative strength index of the token has been fluctuating in the overbought zone above 70 since January 15, which increases the chance of a potential withdrawal or consolidation when buying Momentum starts to decrease.
Based on the present momentum, XCN bulls can probably focus on the psychological resistance to $ 0.04 and then re -test the resistance of $ 0.047, which could not violate it earlier this week.
