Onyxcoin Price Rallies 140% Amid Introduction of Chain Loyalty Program – Bulls Eye $0.03

Highlights:

• Onyxcoin skyrocketed 140% to $0.028, gaining a spot among the top gainers.
• Its trading volume has spiked over $1320% to $1.13 billion, indicating strong interest and participation from traders.
• The rally follows the introduction of the Chain Loyalty Program, a new artificial intelligence tool for smart contract developers.

The Onyxcoin has broken out in a splendid show of bullish muscle, rallying 140% to $0.028, gaining a spot among top gainers. The spike in interest has seen the trading volume surge by 1320% to $1.13 billion as the market cap rises 140%. This sharp increase in volume accompanies the price action, indicating strong interest and participation from traders.

The recent rally follows the introduction of the Chain Loyalty Program, a new artificial intelligence tool for smart contract developers. 

We are thrilled to announce the introduction of the Chain Loyalty Program. Exclusively for users who have staked $XCN, receive up to 75% off https://t.co/kUx6GhaqA4 services with the flexibility to pay using fiat or other crypto for those who prefer to HODL #XCN. pic.twitter.com/8rkRhSdPav

— Chain (@Chain) January 23, 2025

The Chain Loyalty Program is exclusively for users who have staked XCN. Participants receive up to 75% off-chain services. If they prefer to hold XCN, users can also pay using fiat or other crypto. Onyx is a web3 blockchain infrastructure that enables organizations to build better financial services from the ground up. 

XCN Statistical Data

Based on CoinmarketCap data:

• XCN price now – $0.02
• Trading volume (24h) – $1.13 billion
• Market cap – $868.41 million
• Total supply – 48.4 billion
• Circulating supply – 30.79 billion
• XCN ranking – #103

Onyxcoin Price Breaksout In a Parabolic Curve

The XCN/USD 4-hour chart portrays impressive bullish momentum. The Onyxcoin price recently surged to $0.028, a 140% increase. With the MACD displaying a bullish crossover, accompanied by rising histogram bars, there is strong evidence of growing buying pressure.

The Parabolic curve shows intense bullish sentiment, with the bulls showing no signs of slowing down. Immediate resistance lies at $0.029, and a breach above this level may see the bulls reclaim the $0.03 ATH. If the price breaches these levels, the Onyxcoin price could gain further momentum, potentially recording a new record high. 

On the downside, traders should be cautious of the nearest support at $0.024. A dip below this level might expose the price to the $ 0.022 mark, with the key support zone at $0.012. Should bearish pressure intensify, a drop in these supports could invite a consolidation phase. 

RSI Shows a Short-Term Correction

A closer look at the RSI shows an intense buying thesis, pushing it to overbought territory. Its position at 87.22 indicates that it might culminate in a reversal. That said, it might be prudent to watch out for the RSI’s rejection from the overbought region, timing the reversal carefully to avoid the bull trap.

Meanwhile, the MACD histogram reflects growing bullish momentum as its bars shift upward, supported by a crossover of the MACD line above the signal line. This shows that the buying signal is delaying the sell signal, calling for traders to rally behind Onyxcoin. If bullish momentum persists, XCN could aim for higher levels.

However, the overall technical indicators suggest that as long as the XCN token maintains its trajectory above the immediate support zones, the bullish trend will likely persist, leaving room for an optimistic outlook.