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Onyx Coin has had one of the most unbalanced price paths in the market recently. In the last three months, the price of XCN has fallen by about 22%, although it has been in almost 45% in the past month. Most of this rally came in the short period between December 30 and January 6, when the price rose quickly before the momentum faded.
Since peaking near $0.013, Onyx Coin has run nearly 48%. On the surface, this looks like a classic profit-driven boom-and-bust move. But beneath the surface, the patch does something more important. Most of the speculative supply is already out, the selling pressure is gone, and the momentum is starting to stabilize near heavy historical support.
A familiar structure is formed with price tests to support the heavy cost base
Momentum is starting to move away from the price. On the daily paper, Onyx Coin shape Initial structure of a bullish fork on the RSI. The RSI measures the balance between recent gains and losses and often rises before the price rises when selling pressure begins to fade.
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This setting had a huge impact on XCN before. Between October 10 and December 30, the price made a lower low while the RSI formed a higher low. This skew was a sign of seller fatigue and was followed by a rally of over 200% in less than a week.
A similar structure is now being developed between October 10 and January 20. The price continues to fall, but the RSI is still better than during the previous selling period. The signal is not yet confirmed. To confirm the immediate divergence, the next daily candle should be above about $0.0067. If this happens, the variance changes from effort to activity. If this does not happen, a deeper correction, as long as the RSI does not fall below the levels of October 10, will keep the bullish fork setup alive.
Even if the price of XCN falls further, the disadvantage has become more definite. The cost base data shows a dense accumulation zone between $0.0060 and $0.0061, where Acquisition done More than about 4.9 billion XCN. This rally represents a level where many holders are already close to breakeven, making a natural space for selling pressure to fade and buyers to intervene.
Momentum is higher as the price approaches one of the heaviest historical support areas.
Speculative carriers have come out in volume – because that could be constructive
The most important change is in the behavior of the pregnant woman.
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In the past month, he has been out Onyx coin holder Aggressive speculators. Portfolios holding XCN day to month have seen their combined share of circulating supply collapse, as the HODL Waves metric shows. This metric separates portfolios based on holding time.
The weekly payout fell from 27.56% of the bid to just 3.65%, while the day-to-week payout dropped from 4.69% to around 0.80%.
Together, these speculative groups controlled more than 32% of the total supply before the correction. Now they control less than 5%.
This represents an 85% reduction in speculative supply.
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This type of exit usually occurs late in a correction, rather than earlier. These holders tend to chase momentum and exit strongly during pullbacks, taking whatever profits they can make. Once they disappear, the pressure to sell the force often dries up quickly.
Meanwhile, long-term holders are moving in the opposite direction. Wallets containing XCN have increased For a period of 6 to 12 months, its share of supply increased from 6.81% to 8.03% between 20 December and 19 January.
Even the older batches, 2-3 years old, registered slight increases. These holders usually add during weakness rather than during strength and tend to sell much more slowly.
This rotation is important. The show goes from reactive marketers to conviction bearers. This does not guarantee immediate growth, but it significantly reduces the risk of another sudden decline.
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In short, the landfill may have already done its job.
XCN price levels that determine whether the correction will end or not.
With speculative supply dwindling and momentum stabilizing, price levels now determine what comes next.
The first area to watch is $0.0067. Maintaining this level allows the RSI divergence to confirm and signal the willingness of buyers to defend the lows. If the price falls below this, $0.0060 becomes the critical line. This level corresponds to the lower edge of the cost base and represents the point at which risk begins to decrease in compression.
On the downside, the first important test is near $0.0075. Passing through that zone represents a retracement of about 10% and indicates that buyers are returning to action with clear intent. A broader bullish shift emerges only if XCN can reclaim $0.0096, the level it lost in early January and which has capped any rebound since.
Until that happens, the highs remain corrective and not trend-changing.
