The Onyxcoin price today is hovering around the $0.0191 mark, stabilizing after a steep surge to $0.0223 earlier this week. While momentum cooled following the sudden spike, the Onyxcoin price action has managed to hold above multiple support clusters between $0.018 and $0.0186.
Zooming into the 30-minute chart, the asset initially broke out of a descending wedge near $0.017 and posted a vertical move to the $0.022 range. However, the subsequent candle patterns suggest exhaustion. Price is now moving in a sideways drift just above prior supply zones, facing headwinds from the descending trendline drawn from the peak.
Why Onyxcoin Price Going Down Today?
This consolidation comes after high volatility on May 15, where XCN posted back-to-back long wicks on the 30-minute and 4-hour candles, indicating aggressive profit-taking. The Onyxcoin price pulled back nearly 15% from intraday highs, with RSI cooling to 46.9 and MACD showing a flattening histogram near the zero line—both signs of a stall in bullish momentum.
The rejection from $0.022 coincides with a confluence of resistances on the daily and 4H trendline, which further dampened the pace of this rally. The Ichimoku cloud on lower timeframes also shows price currently beneath the Tenkan-Sen and Kijun-Sen, hinting at bearish short-term pressure.
Key Levels to Watch in Onyxcoin Price Action
The key near-term resistance lies at $0.0202 (upper Bollinger Band), with a breakout above $0.0223 needed to resume the bullish push. Failure to do so could drag the Onyxcoin price toward $0.0183 and potentially test the rising trendline at $0.0178. If $0.0178 breaks, a further move toward $0.0169 (trendline support) becomes likely.
On the upside, the bulls need to reclaim $0.0206 (4H Ichimoku Kijun-Sen) and flip the dynamic resistance into support. The daily chart shows the EMA-20 and EMA-50 still sloping upward, supporting the medium-term uptrend if price stabilizes above $0.018.
Notably, the Stochastic RSI has entered the oversold territory at 3.5, suggesting a bounce may occur in the next few sessions—especially if accompanied by higher volume and MACD crossover.
May 2025 Outlook: Will Volatility Drive Another Breakout?
May has so far been marked by Onyxcoin price volatility, driven largely by low-liquidity breakouts and technical squeezes. The recent Onyxcoin price spike followed a textbook descending triangle breakout, but the retracement shows that bulls lack conviction to sustain above $0.022.
If bulls manage to hold the $0.0183–$0.0186 band and breach $0.0202 by mid-May, the next leg could push XCN toward $0.0231. However, any breakdown below $0.0178 would nullify this outlook and expose the coin to a drop toward $0.0160 or lower.
The previously discussed bullish wedge from early May has now morphed into a broader flag. The base of this move remains intact near $0.0169, aligning with the 200 EMA and past accumulation levels. While the recent spike tested the breakout potential, the asset remains at a critical inflection point.
Onyxcoin Price Forecast Table – May 2025
| Level Type | Price (USD) | Indicator Reference |
| Immediate Support | $0.0183 | 30-min breakout base + Fib 0.382 |
| Major Support | $0.0169 | 200 EMA + previous channel resistance |
| Immediate Resistance | $0.0202 | Upper BB + 4H trendline retest |
| Bullish Breakout Target | $0.0223 | May high + descending TL break |
| RSI (30-min) | 46.98 | Neutral zone, slight bearish tilt |
| MACD | Neutral | Flat histogram, potential cross ahead |
| Trend Bias | Sideways/Up | Pending breakout of $0.0202 zone |
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