CandleFocus Onyxcoin (XCN) Price Drops 34% as Whales Halve Their Holding
2025-03-11
Author: Content Editor
Onyxcoin (XCN) has seen a significant decline in price, falling 34% in just one week. Large-scale investors, known as whales, have been selling off their holdings, causing a negative sentiment surrounding the coin. Whale addresses holding between 10 million and 100 million XCN have sold over 50% of their holdings, resulting in a significant reduction in their positions. This has caused a ripple effect throughout the market, leading to a bearish outlook for XCN. The Relative Strength Index (RSI) has fallen to a 7-month low, indicating a peak in bearish momentum. If the bearish sentiment continues, XCN could fall to $0.0100 or even lower. However, if XCN can reclaim the $0.0127 level as support, it could signal a potential reversal and a rally towards $0.0150 or higher.
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