The post Has Onyxcoin (XCN) Price Rise Saturated After a 141% Rally? appeared on BitcoinEthereumNews.com.

Onyxcoin (XCN) has experienced an extraordinary price surge over the last week, posting a 141% rally that brought its value to $0.0202.  This rapid increase has led many investors to speculate whether the altcoin has reached its saturation point. Despite the impressive gains, signs point to a potential reversal ahead. Onyxcoin Investors Are Skeptical The network growth of Onyxcoin saw a spike earlier in the week, but this momentum quickly dwindled, leaving the coin at a three-month low. This sharp decline indicates that demand for the token is fading after the rally, with investors seemingly anticipating a pullback. The increased market volatility is also discouraging new investors as the uncertainty surrounding the broader cryptocurrency market continues to loom. Additionally, the rise in volatility has triggered caution among potential buyers. This, combined with the recent gains, makes investors wary of further price fluctuations. Given the lack of investor confidence, the market sentiment around XCN is beginning to shift from optimistic to more cautious. XCN Network Growth. Source: Santiment Looking at technical indicators, the Relative Strength Index (RSI) for Onyxcoin is currently in the overbought zone, above the 70.0 threshold. This is typically a signal that the asset has been overbought, and a price correction could be imminent. The RSI reading suggests that many early investors may begin cashing out to lock in profits, which could lead to a significant price drop. Historically, whenever assets enter the overbought zone, it often marks the point where bullish momentum stalls. As the market corrects itself, we could see a shift in sentiment from bullish to bearish, especially if XCN fails to break through its current resistance levels. XCN RSI. Source: TradingView XCN Price Needs A Push XCN’s price has surged by 141% over the past seven days, reaching $0.0202. This impressive rally has brought the token…

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Filed under: News - @ April 15, 2025 11:25 am