Onyxcoin (XCN) has been experiencing a prolonged downtrend, leading to significant losses for investors. The altcoin has struggled to maintain upward momentum, with a lack of support from investors compounding concerns about its short-term recovery. The weak market sentiment is reflected in the drop in active addresses, indicating hesitation among holders to participate in the network. The lack of transaction activity and bearish technical indicators suggest further downward pressure on XCN's price. The altcoin is currently trading below a key resistance level, and unless it can breach this resistance, it is likely to continue its decline. However, if XCN can break through the resistance and establish it as a support level, a recovery could be possible.



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