Despite the optimistic outlook across the broader cryptocurrency market, Onyxcoin (XCN) experienced only a 5% increase in value over the past week. Even though trading volume surged by 77.7% today, reaching $82.3 million, the altcoin is still encountering resistance.

The momentum is increasing, as evidenced by the rising Relative Strength Index (RSI) and the formation of a golden cross. However, not all indicators are pointing towards a bullish trajectory. The BBTrend remains negative, indicating a cautious approach. Market participants are keenly observing whether Onyxcoin can maintain its breakout or if the bears will regain control.

Onyxcoin has demonstrated a significant uptick in momentum, with its RSI climbing from 46.15 to 62.29 within two days. This swift rise signifies heightened buying activity and indicates that bullish sentiment is intensifying. The RSI, a commonly utilized momentum indicator ranging from 0 to 100, generally signals overbought conditions when readings exceed 70 and oversold conditions when levels fall below 30. With XCN's RSI now at 62.29, the token is approaching overbought territory but still has room to advance. Notably, Onyxcoin has not surpassed the 70 threshold since April 23, indicating that while momentum is building, it has not yet reached levels that typically precede a pullback. Should the RSI continue to rise, it might support additional price increases; however, traders will be vigilant for indications of exhaustion.

The Onyxcoin BBTrend indicator currently stands at -2.69, reflecting a renewed weakening in momentum following a brief recovery. From April 29 to May 8, the BBTrend remained negative, signaling a bearish inclination during that period. On May 8, the indicator briefly shifted into positive territory, peaking at 2.66—indicating a possible trend reversal—but this movement was short-lived. In the recent hours, the BBTrend has reversed once more, plummeting from -1.41 to -2.69, reinforcing a return to bearish pressure in the short term. The BBTrend (Bollinger Band Trend), a technical indicator that assesses the strength and direction of a trend based on the distance between price and the Bollinger Bands, typically shows upward momentum with positive values and downward momentum with negative values. With XCN's BBTrend now deeply in negative territory, it suggests that bearish sentiment is regaining dominance. Unless the indicator shifts back to positive shortly, the current situation implies limited upward potential and the likelihood of further price declines in the near future.

Onyxcoin (XCN) has just created a golden cross, a bullish technical configuration where the short-term moving average surpasses the long-term moving average. This occurrence often heralds the start of a potential uptrend. If momentum persists, XCN could soon challenge the resistance at $0.020. A break above that level might open the path for further gains towards $0.024, and should the rally endure, the price might ascend as high as $0.0273. Onyxcoin has been one of the most active altcoins of 2025, surging by 118% in the last 30 days.

Nevertheless, if the uptrend falters, critical support levels could become relevant. The initial area to monitor is $0.0175—if that level is breached, XCN may descend to $0.0164. Continued weakness might drive the price even lower to $0.0156.

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