Onyxcoin Price Extends Month-Long Crash — Another 65% Drop?
The post Onyxcoin Price Extends Month-Long Crash — Another 65% Drop? appeared on BitcoinEthereumNews.com.
Onyxcoin price is down nearly 2% in the past 24 hours and remains locked in a steep downtrend. Between January 6 and February 6, XCN lost close to two-thirds of its value. After briefly rebounding from $0.0045 to $0.0059, the XCN price has started weakening again. On-chain data shows accelerating holder exits, while only one major support zone is still holding. The question now is whether this is just consolidation or the start of another deep sell-off. Sponsored Sponsored Bear Flag Breakdown Keeps Downside Pressure Intact Onyxcoin’s recent rebound has formed inside a bear flag pattern on the daily chart. A bear flag appears when a sharp decline is followed by a weak, narrow rebound. It usually signals continuation, not recovery. In XCN’s case, the drop from early January to early February created the flagpole. The move toward $0.0059 formed the flag. Recently, the XCN price slipped below the lower boundary of this structure. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Onyxcoin Price Structure: TradingView This breakdown suggests that buyers failed to regain control after the rebound. Instead of building momentum, selling pressure resumed. When bear flags fail, the next decline often mirrors the size of the first move. With XCN already down around 65% from January levels (pole’s height), this structure keeps downside risk elevated. Whether this weakness is reversed by a move back inside the flag, or confirmed by a sustained breakdown, now depends on on-chain behavior. Holder Exodus Accelerates While Whales Show Fragile Confidence On-chain data shows that long-term investors are leaving faster. Sponsored Sponsored This is reflected in Hodler Net Position Change, which tracks whether wallets holding coins for more than 155 days are accumulating or distributing over 30 days. When the metric is negative, long-term holders are selling.…
Filed under: News - @ February 10, 2026 4:27 pm