This Analyst Warns: Onyxcoin (XCN) Price Is About to Break Down – Here’s Why He’s Still Bullish
The C-Zar gets crypto, YouTuber with over 36,000 subscribers, returns to another deep dive to Onyxcoin (XCN). In his latest video, he warned that the price would seem to be ready, but he didn't worry. As he said in his final review, he is still fully focused on his position and believes that this sink can be the perfect purchase of the zone before a major move.
In the video we covered yesterday, C-Zar explained that XCN prices form a triple bottom, a bullish sound pattern but often leads to a breakdown. He also pointed to the hidden bearish divergence at the RSI and many denials at 50 levels, all suggesting weakness under the surface.
Now, one day later, he doubles that point of view. Seating XCN around $ 0.0167, he said the charts still look soft. Daily, 4 hours, and 1-hour RSIs display the same downward structure. He expects a move towards $ 0.0143- $ 0.015, where the main levels of fibonacci and aligned support are aligned. He thinks this damage can occur quickly, within a few days, and can trigger a sharper to push into the oversold zone.
Still buying onyxcoin (xcn)
Despite the short-term bearish setup, C-Zar is attached to his game plan. As in his last video, he confirmed that his purchase orders were already placed, specifically between $ 0.0144 and $ 0.0150. He said this was where he was most comfortable reloading, and he wasn't fazed if it sank.
His reasoning? XCN price has a history of speedy recovery. He believes that after hitting the support, it can be bouncing back to just one day, which potentially wipe the full falling and shooting at the previous level. According to him, this is not the first time Onyxcoin followed this exact playbook.
C-Zar also touched his longer targets. He still holds his earlier forecasting a minimum of 9X return from the current levels, with reversed scenarios pointing to 15x, 19x, or even $ 0.30- $ 0.40 in July. He emphasized that nothing had changed, despite the expected sinking.
He also returned his previous comparison to the XCN/BTC chart, saying it remains a clear signal for the next leg up. In his view, when XCN is in contact with some levels of BTC ratio, there is a possibility of marking the local tops, and now, that move has not happened.
Also Read: Coin Price Proper for Now (May 5)
Finally, C-Zar pointed to the weekly RSI, where the XCN price was sitting near a bullish ascending channel. He did the same observation yesterday, calling it one of the best zones in history for entries. To him, the structure is still in general, this sinking is just part of the rotation.
In both videos, his message is the same: to be patient, to prepare, and not to panic. If XCN price drops to $ 0.014 or bounces earlier, He believes that the real move will come next, and he wants to be in place before it happens.
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