Step 1: Trend Analysis

• Long-term Trend (90-day): XCN has been in a clear downtrend for the last three months. From early April highs around $0.0225, prices have made consistently lower highs and lower lows, recently hitting a trough below $0.013. The 20-day and 50-day moving averages (SMA) validate the downward momentum with price trading persistently below them most of the last six weeks.
• Medium-term (30-day): The short-lived rally attempts in mid-June and late-June (with spikes toward $0.0165–0.017) were exhausted quickly, and new support was established near $0.0130–0.0135.
• Short-term (7-day): Since July's start, XCN found brief support at $0.0136–0.0140 with low volatility and weakening volume, indicating consolidation after a deep decline.

Step 2: Support and Resistance Levels

• Major Resistance:
  • $0.01436–$0.01445: Last week's attempted breakouts failed around here. Recent intraday high also at $0.01436.
  • $0.01500: Psychological and former range support/resistance.
  • $0.01690–$0.01720: High point of recent bullish retracement in late June.
• Major Support:
  • $0.01355–$0.01360: Repeatedly tested as a bounce zone.
  • $0.01300: June’s lowest close and psychological round number support.

Step 3: Volume Profile & Momentum Indicators

• Volume Analysis:

  • Despite some spikes (e.g., June 21/23, July 10th at 17:00), average daily volume has diminished notably since mid-June, suggesting buyer exhaustion and lack of momentum for another rally.
  • The most recent push to $0.01436 was met with little follow-through and declining volume (evident from today’s low turnover).

• Momentum Oscillators:

  • RSI (Relative Strength Index): Estimated below 45, suggesting weak bullish momentum and avoiding oversold territory—no strong reversal signs.
  • MACD: The MACD line likely remains below the signal, with the gap narrowing, indicating fading bearish momentum, but not yet signaling a bullish crossover. Bearish dominance continues.

Step 4: Candlestick Patterns & Price Structure

• Small-bodied candles, many dojis and lower wicks in the last 48 hours, indicate indecision and failed attempts to push higher, with sellers stepping in before breakout confirmation.
• The rapid fade after intra-hour highs ($0.01436 at 17:00) back to $0.01429 suggests strong resistance and a rejection at higher levels.

Step 5: Volatility & Bollinger Bands

• The Bollinger Bands have contracted and price hugs the lower half, meaning volatility has compressed. This often precedes a larger directional move, but the bias is with the ongoing downtrend.

Step 6: Moving Averages

• The 7-, 20-, and 50-day SMAs are all trending downward, with the current price trading at or slightly below these means ($0.0143 vs. 7-day avg. ~$0.0141 and 20-day avg. ~$0.0147).

Step 7: Order Flow & Order Book Behavior

• Recent price action suggests that large sell orders are clustered near the $0.0143–$0.0144 area. Each push into this zone triggers immediate supply, overwhelming buyers.

Step 8: Fibonacci Retracement

• Using the April high ($0.0225) and the June low ($0.0130), the 23.6% retracement is about $0.0151—which now acts as overhead resistance.

Step 9: Pattern Recognition (Breakdown Retest)

• The price structure over the last two months signifies a descending channel. Rollovers after failed rallies and formation of lower pivot highs point toward a bear flag or descending triangle beginning to form.
• The break below $0.014–$0.0141, retested as resistance, often precedes new lows.

Step 10: Sentiment and Probabilities

• Short-term sentiment: Weak and apathetic, with no catalyst for a bullish reversal in the next 24 hours unless an unexpected event occurs.
• Pattern, order flow, and indicator convergence suggest high probability of renewed selling toward the $0.0135–$0.0132 region.

Step 11: Price Target Calculation

• Sell rally toward overhead resistance: Optimal short entry is $0.0143–$0.01436 (today's session highs and recent supply zone).
• Target: $0.0136–$0.0137 (recent multi-week support, offers logical profit-taking zone given recent volatility).

Combined Conclusion:

Every major technical argument points toward a continuation of the prevailing downtrend. With weak buying interest, persistent supply above $0.0143, and a failure to break key resistance, a short (Sell) is strongly favored. Open near intraday highs ($0.01430–$0.01436), targeting the established support at $0.01360 to exit.