Date: Mon, March 03, 2025 | 05:15 AM GMT
The cryptocurrency market has seen a significant bullish rally in the past hours following the announcement of a crypto strategic reserve by U.S. President Donald Trump on Sunday.
Amid this rally, Onyxcoin (XCN) has caught the spotlight, surging over 30% in the last 24 hours. This impressive move follows a key breakout and growing excitement over an anticipated mainnet launch.
Source: Coinmarketcap Goliath Mainnet Anticipation
A major catalyst behind XCN’s rally is the upcoming launch of Goliath Mainnet, set to go live today, March 3, 2025.
Source: @OnyxDAO (X) This launch represents a significant blockchain upgrade for the Onyx ecosystem, likely introducing enhanced scalability, improved security, and new DeFi capabilities. The growing speculation around this upgrade has fueled increased investor interest, contributing to today’s bullish momentum.
Key Breakout & Moving Average Resistance
XCN’s bullish momentum was further amplified by a key breakout from a falling wedge pattern at the $0.015 level. This follows weeks of correction after the token’s parabolic surge of over 1,500%, which peaked at $0.049 on January 26.
Following the breakout, XCN has climbed to $0.0205 and is currently testing the key resistance of the 25-day moving average (MA).
The MACD indicator shows early signs of a bullish crossover, hinting at a potential trend reversal.
If bullish momentum continues and XCN successfully flips the 25-day MA into support, the next key resistance levels lie at $0.027 and $0.036. A break above these zones could signal a 76% surge from the current price level.
Final Thoughts
Onyxcoin (XCN) is at a crucial juncture, with its price attempting to confirm a breakout and sustain an uptrend. If the mainnet launch delivers on expectations and the market remains bullish, XCN could extend its gains significantly.
With investors closely watching whether XCN can reclaim the 25-day MA, the next few days could be pivotal for its price action.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.
