The post Onyxcoin (XCN) Drops 40% In March as Bears Take Over appeared on BitcoinEthereumNews.com.

Onyxcoin (XCN) has been under significant selling pressure, correcting by 9.4% over the last seven days and plunging by 43% in the past 30 days. The downtrend has left XCN struggling to regain its footing as technical indicators continue to point toward a bearish market structure. Despite short-lived attempts at recovery, the asset has remained weighed down by persistent bearish momentum. Onyxcoin RSI Has Been Below 50 For Almost 5 Days Onyxcoin RSI is currently sitting at 41.09, marking a decline from yesterday’s level of 47.95. This drop indicates that bearish momentum has been gaining ground over the past 24 hours, pushing the RSI further away from the neutral 50 mark. Since March 15, XCN’s RSI has remained consistently below 50, signaling that the asset has been under persistent selling pressure. The continued weakness reflected in the RSI suggests that bulls are struggling to regain control, keeping the price in a bearish or consolidative phase. XCN RSI. Source: TradingView. The RSI (Relative Strength Index) is a momentum oscillator that measures the speed and magnitude of recent price changes to evaluate overbought or oversold conditions. Typically, an RSI above 70 signals that an asset might be overbought and due for a pullback, while an RSI below 30 indicates that the asset could be oversold and might see a bounce. With XCN’s RSI at 41.09 and stuck below 50 for several days, it suggests the market remains tilted toward bearish sentiment. While it’s not yet in oversold territory, the ongoing sub-50 readings highlight the lack of bullish momentum and could imply continued sideways or downward movement unless buyers step in to reverse the trend. XCN BBTrend Shows Selling Pressure Is Still Here Onyxcoin BBTrend is currently at -9.5 and has remained in negative territory for the past two days, signaling a bearish…

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Filed under: News - @ March 21, 2025 2:27 am