Onyxcoin’s Bullish Momentum Hints At a Massive Upside Potential

Onyxcoin’s breakout from a downtrend signals strong bullish momentum, with a potential 1,110% surge if trends persist.

Rising volume and investor confidence confirm the uptrend, with higher highs and strong support levels reinforcing bullish sentiment.

Consolidation after a peak suggests strength, preparing for another potential rally past key resistance levels.

According to analyst Javon Marks, the price of $XCN (Onyxcoin) is holding firm after its recent high-volume surge. A hidden bullish pattern has emerged, signaling further gains. With the breakout sustaining, Onyxcoin's next target sits at $0.1816. This implies a potential 1,110% price increase if the current trend continues. Besides, the asset has transitioned from a prolonged downtrend into a notable uptrend, backed by rising volume and market sentiment shifts.

Breakout Marks a Reversal from Long-Term Downtrend

For a few months, Onyxcoin was subject to relentless selling pressure, driving prices lower. But the decline eventually lost steam, allowing a bottoming pattern to occur. This phase set the stage for a break above the declining trendline. The breakout was preceded by a volume explosion, confirming greater buying interest and increased investor demand.

Consequently, Onyxcoin entered a bull trend, with rising highs and rising lows. The trend reversal was shown as price action continued moving in the positive direction. In addition, the rising trading volume witnessed is proof of the high demand for the asset. All these indicators in unison point towards a long-run bull trend, which fuels more speculation regarding future profits.

Consolidation Signals Strength Before Another Rally

After reaching a peak, Onyxcoin experienced a minor pullback. This correction reflects profit-taking and consolidation rather than weakness. Importantly, the asset has maintained support above previous resistance levels. This suggests that the uptrend remains intact and the market is stabilizing before another potential breakout.

Moreover, the extended bullish trend implies a likely retest of key resistance levels. If Onyxcoin continues this way, breaking through these levels could push the asset into even greater upside potential. The trading volume pattern also confirms extreme market involvement, bolstering the asset's bullish outlook even further.

Onyxcoin’s transition from a long-term downtrend to an uptrend shows growing confidence among investors. The breakout and sustained upward momentum align with reversal patterns seen.