Onyxcoin Shows Early Signs of Bullish Reversal Amid Market Fluctuations

Onyxcoin (XCN), a relatively lesser-known altcoin, is showing early signs of a potential trend reversal after weeks of extensive price fluctuations. Currently, the coin's price stands at 0.01495 USD, reflecting a -0.53 percent decrease from its previous 24-hour value. However, there are indications of stabilization as some bullish signals emerge on the technical front.

XCN is gaining attention due to its efforts to enhance decentralized identity and data monetization, although its adoption is still in the early stages. The token has managed to withstand a broader downtrend in the altcoin market, and traders are eagerly awaiting a breakout opportunity.

The Bollinger Bands indicate that XCN is slightly above the middle band, which is approximately $0.01426. The upper band is at 0.01599, while the lower band is at 0.01253. The price compression within the bands suggests lower volatility and a potential breakout. XCN is attempting to stay above the 20-day moving average and test the upper resistance lines. A continued close above the SMA and a breakout to the upper band could support bullish momentum.

The relative strength index (RSI) is currently at 50.30, with the moving average at 43.98. This places XCN in a mid-zone with a slight bullish lean. If the RSI moves up and remains above 50, it could indicate renewed buyer interest and a potential comeback. Historically, XCN has made upward advances when the RSI reaches the 50 level after a period of consolidation, making the current position noteworthy.

Short-term support is at the 20-day SMA of 0.01426, with further retracement potentially pushing the price down to the lower Bollinger Band at 0.01253. On the upside, resistance is at $0.01599, represented by the upper Bollinger Band. A sustained break above this level could signal a powerful bullish trend, potentially leading to the $0.017-$0.020 area.

According to the analyst's forecast, by the end of 2025, the average price of XCN could be around 0.016 USD, with the potential to rise to 0.022 USD if the trading volume increases and the price limit of 0.015999 USD is breached. However, if the pressure decreases, 0.012 USD will be an essential floor mark. As the ecosystem matures and more decentralized tools are integrated, the average price of XCN may reach up to 0.020 USD by 2026, potentially even 0.030 USD in favorable trends. The increased involvement in digital identity solutions and DeFi integrations could push the average price to 0.028 USD by 2027, with the highest positions close to 0.038 USD. With increasing market maturity and the expansion of its utility, XCN might range between 0.025 and 0.045 USD by 2028. By the end of the forecast period in 2029, XCN could be worth up to $0.055 if regulations and user confidence in decentralized platforms stabilize its offering.

Technically, Onyxcoin is poised for a minor bullish reversal. An increase in RSI and a breakout to the upper Bollinger Band could indicate short-term growth to $0.017 or beyond. While XCN remains a speculative asset due to its fundamentals and niche application in digital identity, it could be a project worth monitoring in the coming years. The next significant milestone could be surpassing the 0.02 USD level, which might occur as early as the end of 2025 or the beginning of 2026, depending on market conditions and adoption progress.