After a 20% weekly rally, Onyxcoin has lost its momentum even though it is still holding most of the rally. On the 4th of September, the price surged from roughly $0.0033 to $0.0048 alongside its trading volume, which reached its strongest level in weeks.
However, on the 4-hour chart, the long upper wick indicates that sellers absorbed that demand. This shift prevented Onyxcoin [XCN] from holding its high near $0.0048.
Interestingly, the price has slipped back to $0.00398, leaving it below the $0.00425 area that previously capped the late-August rally.
Can Onyxcoin hold $0.004?
Another rejection at $0.00425 could confirm that buyers still lack enough momentum to sustain a breakout. That weakness was already visible in the RSI. The indicator fell from above 80 during the surge to 49.84.
Declining Trading Volume showed participation had cooled while XCN consolidated around $0.0040.
Holding this zone could preserve a higher base and offer buyers another attempt at $0.00425. A breakout could reopen $0.0048, where September’s selling emerged.
However, losing $0.0032 would erase the breakout structure and return XCN to its previous range. Sellers would then regain control.
XCN’s hold near $0.0040 now puts OIP-4 in focus as the market looks for support beyond the September rally. The proposal secured 1.303 billion XCN votes, easily surpassing the 200 million quorum, with virtually no opposition.
Once executed, Onyx gains Chain Technology’s payment, wallet, card, account, and settlement infrastructure. In other words, this gives Onyx ready-made technology for its planned blockchain-based neobank.
As a result, this shortens the development path for new financial services.
Notably, the proposal’s progress coincided with XCN rising from roughly $0.0032 toward $0.0045 before cooling near $0.0040. This suggests traders welcomed the acquisition, although the pullback shows approval alone has not sustained the rally.
Attention now shifts toward integration. Successful deployment through Onyx Wallet could expand XCN utility and provide a stronger reason for demand to persist. Without working products, however, price could remain dependent on short-term expectations.
Can XCN break above $0.00416?
With OIP-4 approaching execution, XCN needs renewed buying to keep September’s recovery alive.
XCN must first reclaim the $0.00403–$0.00416 resistance zone.
A breakout backed by stronger Trading Volume and rising Spot CVD could open $0.0045–$0.0048. By contrast, failure to hold $0.00388–$0.00390 could expose $0.00370–$0.00373.
Network activity and product adoption may decide whether speculative interest develops into lasting demand.
