Onyxcoin’s financial structure is going through a critical moment after an Onyxcoin holder exodus grew by 40% in recent days, severely weakening the conviction of long-term investors. According to data analyzed by Ananda Banerjee, the asset has lost nearly two-thirds of its value since January, placing the XCN price in an extreme technical danger zone after breaking below a bear flag pattern.
On the other hand, the recent inability of buyers to sustain the rebound toward 0.0059 dollars has confirmed that selling pressure continues to dominate the market, leaving XCN vulnerable to further declines. In this way, on-chain analysis reveals that wallets held for more than 155 days are distributing their funds aggressively, representing a loss of confidence in future recovery by the project’s oldest allies.
Critical 0.0050 dollar support under maximum pressure
Likewise, the Onyxcoin network is currently supported by a single significant demand cluster located at the psychological level of 0.0050 dollars, where approximately 3.9 billion XCN tokens are concentrated. This zone represents the final line of defense before the price could experience a cascading drop toward much lower targets, such as 0.0025 dollars, where liquidity is notably thinner.
Furthermore, whale behavior adds a layer of fragility to the current scenario, as although they have made minor dip purchases, they show no signs of massive accumulation to reverse the trend. Therefore, if this fundamental support level fails against the increasing supply, holders who are currently at break-even could move into losses, accelerating a cycle of panic selling across the board.
What levels must Onyxcoin reclaim to invalidate its bearish trend?
On the other hand, for Onyxcoin to stabilize in the short term and stop the capital hemorrhage, the asset urgently needs to reclaim the 0.0057 dollar level, turning old resistances into new operating supports. However, the lack of apparent demand to absorb the constant flow of sales from miners and large holders complicates any sustained recovery attempt on the blockchain, keeping rallies as simple corrective movements.
Nevertheless, the future outlook depends entirely on the market’s absorption capacity regarding upcoming token unlocks and the execution of its governance upgrades. Consequently, investors must closely monitor institutional activity and outflow trends, as a sustained close below current levels would validate a continuation of the fall. In this manner, the asset’s relevance within the cryptocurrency ecosystem is at stake during the upcoming trading sessions.
As the altcoin market experiences a capital rotation toward lower-risk assets, XCN’s resilience will be tested under an environment of high volatility and low institutional demand. Therefore, the success of the defense at 0.0050 dollars will determine if Onyxcoin enters an accumulation phase or deepens its crash.
