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Onyxcoin (XCN) Up 10%: Analyst Predicts 1,200% Upside

3 hours ago
Bitcoin Ethereum News

Key Notes

  • Onyxcoin (XCN) surged 9.44% in 24 hours, with trading volume spiking over 200%.
  • The token still trades 92.78% below its all-time high despite a 1,000% yearly gain.
  • The new Onyx Smart Wallet offers a multichain, gas-free experience on ETH, BNB, and Base.

Onyxcoin

XCN
$0.0135



24h volatility:
9.1%


Market cap:
$470.07 M



Vol. 24h:
$76.87 M

extended its summer comeback with a sharp 24-hour jump, leading to speculations about how far this cycle can run.

A prominent trader argues that the rally is still in its early innings, forecasting a 1,200% rally for the altcoin.


A 10% Onyxcoin (XCN) Rally

XCN rose 9.44% in the past 24 hours to about $0.01326 as trading volume surged 204.13%, lifting market capitalization to roughly $460.89 million.

The rebound comes despite a choppy month, down 29.08% over 30 days and 2.49% week-over-week, after a blistering 1,000% gain over the last year.

Even with that performance, the token still trades at a steep 92.78% discount to its all-time high of $0.1841.

Catalyst Watch: Smart Wallet Goes Multichain

The latest rally follows the debut of the Onyx Smart Wallet, a non-custodial, gas-free wallet built on the Onyx blockchain.

Guided by community governance, OnyxDAO voted to have Chain provide the infrastructure, enabling a scalable, fee-less user experience across multiple networks.

The multichain upgrade went live on Google Play on August 15 and landed in Apple’s App Store on August 19, opening gas-free XCN transfers on Ethereum

ETH
$4 306



24h volatility:
0.9%


Market cap:
$519.00 B



Vol. 24h:
$31.23 B

, BNB Chain

BNB
$844.8



24h volatility:
0.8%


Market cap:
$117.66 B



Vol. 24h:
$1.41 B

and Base.

As a modular, low-fee chain designed for financial-grade applications, Onyx is positioning the wallet as a mainstream on-ramp to its ecosystem, with more features teased, including a Goliath testnet wallet.

XCN Price Analysis: The 1,200% Call

Analyst Javon Marks set a target at $0.1816, implying roughly +1,260% from current levels, making XCN possibly the next crypto to explode.

His chart shows a prolonged downtrend capped by a descending trendline with multiple rejection points, followed by a clean break of that trendline, base-building, and then a vertical expansion on heavy volume earlier this year.

After that expansion, price has been consolidating at higher lows, as seen in the chart below.

The $0.1816 objective aligns with a major overhead supply area marked on his chart, just under the prior cycle’s extreme at $0.1841. Interestingly, a confirmed trendline break could turn into a return toward the nearest dominant resistance left by the previous sell-off.

Whether XCN ultimately travels the full 1,200% route will hinge on the wallet’s real-world traction and the broader crypto industry.

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Parth Dubey

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

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Source: https://www.coinspeaker.com/onyxcoin-xcn-up-10-analyst-predicts-1200-upside/