Onyxcoin Price Prediction: 290 Million Whale Buying Gives Critical Hint

Onyxcoin’s price has shown significant movement over the past week, despite a sharp correction after reaching $0.0130. The token is up nearly 97% over the last seven days, but it has since corrected by about 36% since January 6. This correction has not disrupted the broader bullish structure.

The XCN price is currently consolidating within a classic bullish flag pattern, a continuation pattern that follows a strong upward move. Price is now near the upper boundary of this flag, suggesting building pressure for a potential breakout. A move above the key resistance level of $0.0095 could trigger a 218% breakout path based on the measured move.

Moving averages are also playing a role in the current setup. The 20-day EMA is rising toward the 100-day EMA, indicating a potential bullish crossover if momentum holds. The 200-day EMA is particularly important, as XCN previously accelerated after reclaiming this long-term trend line at the end of December.

Why Is Whale Activity Significant?

Large holders have increased their XCN holdings during the consolidation phase. Whale wallets have added nearly 290 million tokens, representing roughly $2.6 million in buying pressure at current prices. This accumulation began as the price corrected, indicating that whales were buying the dip rather than selling off.

Exchange data supports this bullish setup. Exchange inflows, which track tokens being sent to exchanges and often signal selling intent, have dropped sharply from a peak of around 1.53 billion XCN to approximately 51 million XCN. This near 97% decline suggests that selling pressure has significantly decreased.

What Levels Are Key For a Breakout?

The first key level to watch is $0.0090, which aligns with the 200-day EMA. Holding above this level increases the likelihood of a continued bullish move. The next major trigger zone lies near $0.0095. A daily close above this level would confirm a breakout from the upper boundary of the flag pattern.

If a breakout occurs, the price could retest the recent high of $0.0130, the first major resistance. On the downside, $0.0083 is the key support level. A break below this would weaken the flag pattern. If the price falls further to $0.0069, the bullish setup would be invalidated.

What Is the Current Supply Dynamic?

The reduction in exchange inflows and the increase in whale accumulation have created a supply-tight environment. More tokens are staying off-market, and selling pressure has faded. This dynamic supports a continuation of the current bullish trend rather than a breakdown.

What Are Analysts Watching?

Market participants are closely monitoring the interaction between the price and the 200-day EMA, as well as the behavior of large holders. A clean move above the 200-day EMA would confirm that buyers remain in control. The 20-day EMA’s movement toward the 100-day EMA is also a sign of potential momentum.

Analysts are also watching whale activity for further clues. Whale accumulation during a dip is often a sign of confidence in the asset’s future. This behavior suggests that large investors see value in XCN despite the recent pullback.

What Could Trigger a Major Price Move?

A breakout above $0.0095 is the primary catalyst for a significant upward move. If this level is breached, the price could retest the recent high of $0.0130. This would represent a potential 40% move from the current consolidation level.

Conversely, a sustained drop below $0.0069 would invalidate the bullish pattern. This would suggest that the current consolidation is not a continuation but a rejection of the earlier bullish trend.

The overall market environment is also a factor. The broader crypto market has cooled slightly, but Onyxcoin remains a strong performer relative to its peers. Whale behavior and technical indicators suggest that XCN is in a critical phase of its price development.