The Crypto Market’s Recovery Fuels XCN’s Momentum
The crypto market is stabilizing, with #Bitcoin ($BTC) near $98K and #Ethereum ($ETH) holding at $2,800 after a recent dip. As market sentiment improves, one standout performer is Onyxcoin (XCN), which has skyrocketed by 1,200% over the past month. This impressive rally has investors wondering: Can XCN climb another 500% and reach $0.1816?
XCN’s Strong Rebound: What’s Driving the Surge?
Onyxcoin recently touched a low of $0.01800 but has since bounced back above $0.03000, indicating strong investor confidence. Analysts suggest that the coin could be on track for a substantial price increase, with some predicting a potential target of $0.1816. The key catalyst behind this bullish outlook is the recent launch of the XCN Ledger, a groundbreaking Layer 3 blockchain designed to enhance scalability and efficiency.
XCN Ledger: A Revolutionary Layer 3 Blockchain
Unlike traditional Layer 1 and Layer 2 solutions, Layer 3 networks focus on optimizing transaction speed, security, and cost-efficiency. The XCN Ledger plays a pivotal role in Onyxcoin’s ecosystem by streamlining transactions with near-instant confirmations and significantly lower fees. Additionally, it incorporates the XCN token as its native gas fee mechanism, following the EIP-1559 model—introducing a deflationary burn system that reduces the total supply of $XCN with each transaction.
This scarcity-driven model could have a significant long-term impact on XCN’s price, increasing its value as Onyx Protocol expands its Web3 infrastructure. As adoption grows, the combination of increasing utility and decreasing supply makes XCN an asset to watch closely.
Will XCN Reach $0.1816?
With the launch of the XCN Ledger and increasing adoption, crypto analyst Javon Marks remains optimistic that #Onyxcoin could still hit $0.1816. Given the recent surge in buying pressure and improving market sentiment, another 500% gain remains a possibility. However, price movements in the crypto space are unpredictable, and investors should monitor key resistance and support levels closely.
XCN’s Long-to-Short Ratio Signals Growing Market Confidence
A notable metric supporting the bullish case for #Onyxcoin is its Long-to-Short Ratio. According to CoinGlass data, XCN's Long-to-Short Ratio has jumped from 0.7781 to 1.1706, signaling strong market confidence. A rising long-to-short ratio suggests that more traders are betting on XCN’s upward trajectory, further reinforcing the likelihood of sustained price growth.
XCN’s Price Pattern: A Breakout on the Horizon?
As of today, In the past 24 hours, Recent market data shows XCN price is trading above $0.3000. Technical analysis of Onyxcoin’s 4-hour chart reveals a symmetrical triangle pattern, often a precursor to a breakout. If $XCN price breaks above resistance, it could trigger another bullish surge, potentially revisiting its three-year high of $0.045–$0.050—a level it last tested on January 26. However, failure to breach this resistance could lead to a retest of lower support levels, delaying a potential breakout.
The Future of Onyxcoin: What’s Next?
With strong fundamentals, increasing adoption, and deflationary tokenomics, Onyxcoin (XCN) remains one of the most promising crypto assets in today’s market. If bullish momentum continues, the much-anticipated 500% surge could become a reality. However, investors should remain cautious, keeping an eye on key market trends and technical indicators.
