ONYXCOIN (XCN) lost more than 50% in February after a large -scale rally in the period from January 13 to 26 consisting of about 2000%. Despite the ongoing decline, its recent indicators show mixed signals. RSI remained neutral over the past nine days, and ADX indicates a weakening trend.
Currently, the XCN is traded between the resistance of $ 0.017 and the support of $ 0.0143, and the EMA lines still reflect a bear tendency. Whether the price will move higher or lower, will depend on whether the pulse is returned or the sale pressure continues to push XCN to lower support levels.
XCN RSI was neutral for 9 days
ONYXCOIN has RSI 43.2, compared with the recent maximum of March 68.9 on March 2.
From yesterday, he ranges between 45 and 46, maintaining a neutral position without a clear upward or descending impulse.
RSI, or relative force, is an indicator of an impulse that measures the speed and value of prices in a scale from 0 to 100.
Indications above 70 indicate overdue conditions that suggest a potential rollback, while the indications are below 30 signal reversal conditions, which may precede the rebound.
With RSI XCN in 43.2, the asset remains on the neutral territory where it has been since February 25.
The movement above 50 may indicate a growing bull impulse, while a drop to 30 can signal the increase in sales pressure.
ONYXCOIN AdX shows that the descending trend loses steam
ADX XCN is 16.8, compared with 36.6 three days ago, which indicates a constant reduction in trend strength. This fall involves the weakening of the impulse, agreed with the recent descending trend of the XCN over the past few days.
The average direction index (ADX) measures the trend strength on a scale from 0 to 100.
Indications above 25 usually indicate a strong tendency, while the values below 20 suggest a weak or non -existent pulse of the trend. With ADX XCN at 16.8, the current descending trend does not have enough strong conviction, which means that the further drawback may be limited if the pulse does not rise again.
If ADX continues to decline, XCN can go into the consolidation phase, and not into a steady descending move.
Onyxcoin may soon fall below $ 0.014
After a historical surge in January, when XCN was one of the most successful altcoins in the market, The price of ONYXCOIN is currently trading between a resistance of $ 0.017 and a support of $ 0,0143. Its lines are shown Bear Tender, like a short -term ema, remains below the long -term.
If the ongoing descending trend continues, XCN can check the support level of $ 0.0143, and the break below, which can lead to a reduction in price to 0.0134 US dollars.
Nevertheless, ADX indicates that the descending trend weakens, which can open the door to change.
When buying an ONYXCOIN pulse, the resistance at 0.017 dollars can be checked, and a breakthrough above this level can send the price by 0.022 US dollars. A stronger recovery, similar to his impulse in January, can push XCN to $ 0.0264.
