{"id":51588,"date":"2025-04-30T14:05:01","date_gmt":"2025-04-30T14:05:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/onyxcoin-price-drops-14-as-2-million-in-liquidations-hit-xcn-traders\/"},"modified":"2025-04-30T14:05:01","modified_gmt":"2025-04-30T14:05:01","slug":"onyxcoin-price-drops-14-as-2-million-in-liquidations-hit-xcn-traders","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/onyxcoin-price-drops-14-as-2-million-in-liquidations-hit-xcn-traders\/","title":{"rendered":"Onyxcoin price drops 14% as $2 million in liquidations hit XCN traders"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-6-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-6-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-6-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-6-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>The MACD indicator shows a bearish crossover, confirming a trend reversal.<\/li>\n<li>Next major support lies at $0.0165, with risk of further losses.<\/li>\n<li>Recovery is possible if XCN reclaims $0.0187 and retests $0.0214.<\/li>\n<\/ul>\n<p class=\"\" data-start=\"126\" data-end=\"887\">Onyxcoin (XCN) has recorded a steep drop of nearly 14% this week, signalling a sharp turn in market sentiment after the altcoin failed to break past a critical resistance level of $0.0214.<\/p>\n<p class=\"\" data-start=\"126\" data-end=\"887\">The failed breakout attempt, coupled with a bearish technical signal, has ended a six-week upward trend for the token.<\/p>\n<p class=\"\" data-start=\"126\" data-end=\"887\">At the time of writing, XCN is trading at $0.0182, having slipped below the local support of $0.0187.<\/p>\n<p data-start=\"126\" data-end=\"887\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone size-full wp-image-302745\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/04\/onyx.jpg\" alt=\"\" width=\"1525\" height=\"547\"\/><\/p>\n<p data-start=\"126\" data-end=\"887\">Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/onyxcoin\/\">CoinMarketCap<\/a><\/p>\n<p class=\"\" data-start=\"126\" data-end=\"887\">This weakness has triggered a cascade of liquidations, putting further pressure on Onyxcoin\u2019s short-term outlook.<\/p>\n<p class=\"\" data-start=\"126\" data-end=\"887\">The recent downturn follows a period of relative optimism, during which XCN attracted renewed investor attention amid rising on-chain activity.<\/p>\n<p class=\"\" data-start=\"126\" data-end=\"887\">However, its inability to hold above key price levels suggests growing caution among traders.<\/p>\n<h2 class=\"\" data-start=\"889\" data-end=\"939\">Traders liquidated as XCN fails to hold support<\/h2>\n<p class=\"\" data-start=\"941\" data-end=\"1342\">The shift in momentum for XCN was first flagged by the MACD (Moving Average Convergence Divergence) indicator, which registered a bearish crossover around 72 hours ago.<\/p>\n<p class=\"\" data-start=\"941\" data-end=\"1342\">This reversal has been confirmed by real-time liquidation data, which shows that nearly $2 million worth of long positions have been liquidated.<\/p>\n<p class=\"\" data-start=\"941\" data-end=\"1342\">That figure represents roughly 16% of the $12 million total open interest for Onyxcoin.<\/p>\n<p class=\"\" data-start=\"1344\" data-end=\"1753\">These liquidations are significant given XCN\u2019s relatively low market cap and trading volume compared to major assets.<\/p>\n<p class=\"\" data-start=\"1344\" data-end=\"1753\">The size of the liquidations suggests that a sizeable portion of retail traders were caught off guard by the sudden shift, intensifying negative sentiment.<\/p>\n<p class=\"\" data-start=\"1344\" data-end=\"1753\">If bearish conditions persist, further liquidations could push the token even lower, as leveraged traders rush to exit their positions.<\/p>\n<h2 class=\"\" data-start=\"1755\" data-end=\"1803\">Technical levels signal more downside for XCN<\/h2>\n<p class=\"\" data-start=\"1805\" data-end=\"2129\">With XCN now trading below both the $0.0187 local support and the key $0.0214 resistance level, the next major downside target is $0.0165.<\/p>\n<p class=\"\" data-start=\"1805\" data-end=\"2129\">This support level is critical for preventing further losses. A decisive breakdown below $0.0165 could lead to a new wave of long position liquidations, extending the current downtrend.<\/p>\n<p class=\"\" data-start=\"2131\" data-end=\"2438\">The price failure comes after two attempts in April to reclaim the $0.0214 resistance.<\/p>\n<p class=\"\" data-start=\"2131\" data-end=\"2438\">Both were met with rejection, confirming that the level is acting as a strong ceiling in the current market environment.<\/p>\n<p class=\"\" data-start=\"2131\" data-end=\"2438\">Until XCN can retest and successfully break above this mark, sentiment is likely to remain bearish.<\/p>\n<h2 class=\"\" data-start=\"2440\" data-end=\"2480\">Recovery hinges on reclaiming $0.0187<\/h2>\n<p class=\"\" data-start=\"2482\" data-end=\"2811\">There is still a narrow path to recovery. If Onyxcoin can reclaim the $0.0187 level as support and consolidate above it, the token could stage another attempt to challenge the $0.0214 barrier.<\/p>\n<p class=\"\" data-start=\"2482\" data-end=\"2811\">A successful breakout above that level would invalidate the current bearish trend and potentially trigger a short-term bullish reversal.<\/p>\n<p class=\"\" data-start=\"2813\" data-end=\"3155\">However, broader market sentiment will also play a role. With Bitcoin and Ethereum showing signs of consolidation and risk appetite fluctuating among altcoin investors, Onyxcoin may need more than technical support to stage a rebound.<\/p>\n<p class=\"\" data-start=\"2813\" data-end=\"3155\">For now, traders are watching closely to see whether $0.0165 holds, or if further downside is on the cards.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/onyxcoin-price-drops-14-as-2-million-in-liquidations-hit-xcn-traders\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The MACD indicator shows a bearish crossover, confirming a trend reversal. Next major support lies at $0.0165, with risk of further losses. Recovery is possible if XCN reclaims $0.0187 and retests $0.0214. Onyxcoin (XCN) has recorded a steep drop of nearly [&hellip;]<\/p>\n","protected":false},"author":3947362361,"featured_media":51589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/51588"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362361"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=51588"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/51588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/51589"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=51588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=51588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=51588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}