Onyxcoin Surges: Golden Cross Looms, Bullish Momentum Unstoppable
1min read Onyxcoin, a cryptocurrency, has recently exhibited a strong bullish breakout, with its price surging above key moving averages. This development hints at a potential long-term uptrend. An imminent Golden Cross formation, along with strong Fibonacci retracement levels, is supporting further upside, as traders eagerly await confirmation of sustained bullish momentum.
The XCN/USDT 1-hour chart indicates a robust breakout above the 200-day SMA at $0.01638, confirming bullish momentum. This breakout aligns with increasing trading volume, suggesting strong market participation. The price has also surged past the 50-day MA, currently at $0.01597, reinforcing bullish sentiment.
A Golden Cross is on the horizon as the 50-day MA is poised to cross above the 200-day SMA. This rare but historically reliable bullish signal could drive further momentum. A series of higher lows forming at $0.01340, $0.01400, and $0.01450 indicates strong buyer interest. If the Golden Cross materializes, traders may see a push toward the 1.618 Fibonacci extension at $0.02139.
Conversely, failure to sustain above $0.01837 could trigger a retest of $0.01651 (61.8% Fibonacci retracement). A breakdown below $0.01535 (38.2% Fibonacci) may invalidate the bullish structure. However, Fibonacci retracement levels suggest support at $0.01593 (50%) and $0.01535 (38.2%) in case of a retrace, which would maintain the bullish trend.
Onyxcoin's recent price action signals strong bullish potential, with technical indicators aligning to support further upside. The breakout above the 200-day SMA and imminent Golden Cross indicate a structural shift favoring bulls. If XCN maintains support above key levels, a test of $0.02139 remains likely.
