Onyxcoin Consolidates After Rally as Whales Add 290 Million XCN

Beincrypto reports Onyxcoin is consolidating after a sharp rally to $0.0130 as a bullish flag pattern takes shape, while whale wallets added roughly 290 million XCN during the pullback, altering short-term supply dynamics.

XCN remains one of the strongest movers this month, up nearly 97% over the past seven days, but the token corrected about 36% since January 6 after briefly touching $0.0130. Price is trading near the upper boundary of the flag as the 20-day EMA rises toward the 100-day EMA and the token hovers around the 200-day EMA. On-chain data shows large-holder balances rose from roughly 42.26 billion XCN to about 42.55 billion XCN—an addition of nearly 290 million XCN, about $2.6 million at current prices—and exchange inflows dropped from around 1.53 billion XCN to roughly 51 million XCN, a near 97% decline.

The analysis highlights $0.0090 as key support (near the 200-day EMA), $0.0095 as the breakout trigger whose daily close could retest $0.0130, and $0.0083 as the critical downside level (with $0.0069 invalidating the bullish setup). Whether consolidation becomes an explosive breakout depends on price reaction around the flag resistance and long-term moving averages; the article notes the analysis is for informational purposes and not financial advice.

Key Topics

Crypto, Onyxcoin, Xcn, Whale Wallets, Santiment, Bull Flag