Onyxcoin (XCN) is currently facing challenges as it struggles to break out of a downtrend. The overall market sentiment is uncertain, which may delay any potential recovery for the coin. XCN's price movement is influenced by its correlation with Bitcoin, which poses risks as Bitcoin is experiencing difficulties. Long-term holders are currently in profit, which provides some support for the altcoin. However, XCN's price is constrained by larger macro trends, and if the market worsens or Bitcoin's price continues to stagnate, XCN may face further declines. Currently, XCN is stuck below a key resistance level, and if it fails to find support, it could fall further. However, if market conditions improve, XCN could reclaim the resistance level and see a price increase.



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