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The price of Unixcoin continues to be one of the strongest coins this month, but the recent movement shows a more complex story. The price of xcn has stopped at about 97% in the last seven days, but this growth masks a strong correction. Since the 6th of January, the coin has corrected almost 36%, after barely $0.0130.
This withdrawal did not break the structure. Rather, the price of XCN has stabilized in a bullish flag after rising more than 4% day after day, while the main holders intervene and sell pressure ease. The key question remains whether xcn will be able to start the price explosion it has been looking for for a while.
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The bullish flag pattern continues as the main points of the article emerge
The daily charts show this Unixcoin stabilizes Within a classic bullish flag pattern. The bullish flag pattern is formed after a strong vertical movement, followed by a bearish zone that allows the price to correct without breaking the general trend. xcn is currently trading near the upper boundary of this flag, indicating increasing pressure.
A break of the key resistance level at $0.0095 could initiate a 218% rally, identical to the move of the main bar.
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The middle moves add a new context. The exponential moving average, or EMA, gives more weight to recent prices and helps track short-term trend changes. Unixcoin’s 20-day EMA is now rising towards the 100-day EMA, indicating a potential bullish crossover if the momentum continues.
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The 200-day EMA is of particular importance here. During the previous rally that started in late December, XCN accelerated once the price regained this long-term trend line. The price is back around the same level. A clear break above the 200-day EMA would strengthen the pennant breakout scenario and confirm that buyers are still in control.
Note that so far the price has not broken the bullish pattern despite the 36% fall that began on January 6, and this appears to be a consolidation, not a rejection.
Whale collecting increases as selling pressure fades
Chain data supports this bullish scenario.
After the XCN price correction on January 6, whales began to accumulate the coin, and large Onyx Coin wallet balances increased from about 42.26 billion XCN to about 42.55 billion XCN, representing an addition of about 290 million XCN tokens during the accumulation phase.
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It is clear at current prices that this accumulation represents buying pressure of about $2.6 million, and more importantly, it began immediately after the price decreased, which indicates that the whales bought the decline instead of going out in force.
The data of the trading platform supports this perception, as the flows to the exchanges, which monitor the number of tokens sent and often indicate the intention to sell, peaking on January 6, coinciding with the decrease in price. Inflows then dropped sharply from about XCN 1.53 billion to about XCN 51 million, a drop of almost 97%.
This sharp decline has highlighted that the selling pressure has dissipated, as currencies move less towards the platforms, and a greater amount of supply remains outside the market, and with the accumulation of whales, the scarcity of supply increases, which creates an environment that favors the continuation of the upward trend instead of breaking.
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Key Onyxcoin price levels that determine a breakout
The first price level for Onyx Coin should be monitored at $0.0090, which roughly corresponds to the 200-day EMA, and staying above this level keeps the bullish structure intact and increases the probability of a breakout.
The current activation zone is near $0.0095, and a daily close above this level will confirm a breakout from the upper trend line of the flag, and if this happens, the price could retest at $0.0130, the last high place and the first major resistance.
Note that the $0.0083 level is the main support. Losing this level will weaken the construction of science and indicate that the consolidation is failing. Below this level, $0.0069 becomes crucial. Continued movement below this zone will completely invalidate the bullish pattern.
Currently hold your Onyx Coin balance. The price of XCN has consolidated, whales are hoarding the coin, and the selling pressure has decreased dramatically. The extent to which the situation turns into an explosive farm depends on how the price of Onyx Coin reacts around the resistance of the flag and the long-term moving average.
