The post Why is the XCN Price Surging High? How High Can Onyxcoin Go? appeared first on Coinpedia Fintech News
Oxycoin’s price is rising again and shows the potential to revive the bull run it demonstrated in the first few days of 2025. The price has surged by over 2000% in just two weeks, which soon faced a massive bearish activity, leading to an 85% drop in the next few months. However, the steep descending trend was halted during the start of the month, and after accumulating gains, the token triggered a 150% upswing, initiating a strong recovery.
This raises the question of why the price of Onyxcoin (XCN) is rising. Does the XCN coin have a future?
Onyxcoin recently launched a layer-1 blockchain called Goliath, which is specially designed for financial institutions. The chain offers Visa-like transaction speed, processing nearly 24,000 transactions per second using a PoS consensus mechanism. After the testnet launch, the platforms aim to launch the mainnet in early 2026. With this, the market participants seem to have become hopeful of the upcoming trend, as the XCN price seems to be poised to mark a new ATH soon.
After breaking above the falling wedge, the price surged by over 70% to rise from the lows around $0.007 to reach as high as $0.023. Presently, the bearish influence over the token appears to be minimal, and hence, the price is expected to rise without any major interruption. The Ichimoku cloud has undergone a bullish crossover, while the RSI surged high and entered the overbought zone. However, the RSI highs lie above 94, which suggests there is more scope for a bullish continuation.
Therefore, the Onyxcoin crypto price is expected to maintain a consolidated ascending trend and rise above 0.5 FIB at $0.025 in a short while. Once these levels are secured, the XCN price may head towards the upper targets at 0.618 & 0.786 FIB as $0.031 and $0.039, which may further push the price towards the ATH at $0.049 and find new highs.