Onyxcoin sees 350M XCN moved to exchanges; charts show 150% breakout potential

Onyxcoin (XCN) selling surged after roughly 350 million tokens moved to exchanges, coinciding with a roughly 12% price drop that prompted panic among short-term holders.

The 350 million XCN inflow is valued at nearly $2 million at current prices and typically reflects growing sell intent rather than long-term positioning. Many short-term investors reportedly exited early, adding supply and intensifying near-term volatility.

MVRV Long/Short Difference data has been trending higher, a sign that profits and losses are shifting away from short-term holders. That shift suggests short-term selling pressure may be approaching an exhaustion phase, which could ease selling once excess supply is absorbed.

Technically, XCN is trading near $0.0057 and remains above the $0.0054 support level. A flag pattern over the past month projects a measured move near $0.0156 — about a 150% rally — if a breakout confirms. A conservative bullish path would see XCN reclaim $0.0077, then $0.0095 and the $0.0100 psychological mark; downside targets if support fails include $0.0047 and $0.0041.

A confirmed breakout would likely need broader market support and sustained demand, and it remains unclear whether those conditions will align. This analysis is presented for informational purposes and is not financial or investment advice.

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