Onyxcoin (XCN) Slumps 57% from January 2025 Peak High, What’s Happening? (6/3/25)

Jakarta, Pintu News – Onyxcoin (XCN) has experienced a significant drop in value since reaching an all-time high of $0.049 on January 26, 2025. Currently, the coin’s price stands at $0.015, representing a 57% decline. Mounting selling pressure and market indicators point to further downside risks.

Massive Sale of Onyxcoin

Over the course of this month, the Onyxcoin spot market has experienced outflows of $6.45 million, reflecting high selling activity among investors. Profit-taking activities seem to be the main factor behind this massive selling. In addition, Onyxcoin’s funding rate has been in the negative zone since the beginning of the year, signaling a strong bearish sentiment towards the coin.

Onyxcoin is still in a strong downward trend, which started since it reached its highest price in January. The trading pattern shows that sellers have complete control over the price. If the price manages to break the lower limit of the existing trend channel, Onyxcoin could fall to the $0.0075 level.

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Onyxcoin’s Possible Recovery

Although the current situation seems bleak, there is a possibility of recovery for Onyxcoin. If there is a change in market sentiment or positive news in favor of Onyxcoin, the price could rebound to $0.022. However, this would require a significant change in market dynamics which is currently dominated by negative sentiment.

Onyxcoin’s price recovery largely depends on external and internal market factors. Investors and traders should pay attention to technical and fundamental indicators before making investment decisions. In-depth analysis and good market understanding will be key in navigating these volatile market conditions.

Conclusion

Onyxcoin is currently facing tough challenges with high selling pressure and market sentiment trending negatively. While there is potential for a recovery, investors should be cautious and do in-depth research before getting further involved. The cryptocurrency market is highly volatile and requires a good understanding of the risks and opportunities involved.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. XCN Price Drop Indicates Bearish Trend. Accessed on March 6, 2025
• Featured Image: Blockzeit