Onyxcoin Price Analysis Powered by AI

XCN Rebound After Capitulation: Bull-Flag Setup Aiming for $0.0078 Retest (24h Outlook)

Market context (multi-timeframe)

Current price: $0.007428

You provided daily candles (Oct 24 → Jan 21) plus hourly candles (Jan 20 22:00 → Jan 21 21:57).

1) Higher-timeframe structure (Daily)

Macro move: A strong impulsive rally occurred Jan 4–7:
- Jan 4 close ~$0.005432
- Jan 6 high ~$0.012863 (blow-off wick)
Post-spike behavior: Since that peak, price has been in a distribution / downtrend correction with lower highs and lower lows:
- Jan 8 close ~0.00937 → Jan 15 close ~0.008583 → Jan 20 close ~0.006457
Capitulation + rebound day: Jan 21 daily candle shows a strong rebound:
- Open ~0.006463, High ~0.007818, Close ~0.007428
- This is a bullish expansion candle following a sharp selloff day (Jan 20). It often signals short-term mean reversion / relief rally continuation, but within a still-bearish larger correction.

Key daily levels (support/resistance):

Support zone: $0.00645–0.00650 (Jan 20 close + Jan 21 open/low area)
Pivot / near-term support: ~$0.00710–0.00720 (hourly base built during the day)
Resistance 1: ~$0.00755–0.00760 (multiple hourly stalls)
Resistance 2 (major): ~$0.00780–0.00782 (Jan 21 intraday high)
Overhead supply: ~$0.00800–0.00810 (prior breakdown area around Jan 10 close and Jan 19 intraday region)

Interpretation: Daily trend is still a correction from a blow-off top, but the last 24–48h show reversal characteristics (sharp selloff → strong rebound), favoring one more push upward before the larger downtrend reasserts.

2) Intraday structure (Hourly)

From Jan 21 00:00 onward:

Early session: gradual rise from ~0.00665 to ~0.00693.
Impulse leg: 05:00–06:00 pushes to ~0.00775 with very large volume.
Pullback / consolidation: 07:00–18:00 ranges mostly 0.00713–0.00752 with repeated tests and failed breakdowns.
Late-session bid: 19:00–20:00 pushes back to ~0.00747.
Last prints: holding ~0.00743.

This looks like impulse → consolidation (flag) → potential continuation, provided price holds above the mid-range support.

Indicator-based assessment (using price/structure proxies)

(Exact indicator values require full computations; below is signal logic grounded in observed candle sequences, ranges, and swing points.)

3) Trend & moving-average logic (price action proxy)

After a strong intraday impulse, price is holding above the post-impulse midpoint (roughly 0.0073). That typically aligns with short-term MAs turning up and price staying above them.
The daily trend (from Jan 8 onward) is still below the likely 20D/50D area (given the earlier 0.008–0.010 region), meaning rallies can meet overhead supply.

Signal: Intraday bullish, daily still repair-mode (bearish-to-neutral). Net: bullish for next 24h, but capped upside.

4) Support/Resistance + market memory

Strong reaction at 0.00646 (Jan 20 close / Jan 21 open-low zone). That is now the “line in the sand.”
Repeated intraday failures near 0.00755–0.00760 suggest sellers are active, but each pullback is shallower (bullish absorption).

Signal: Favor a retest of 0.00760 and possibly 0.00780 if 0.00720+ holds.

5) Volatility / range behavior

Hourly ranges expanded sharply during the impulse (05:00–06:00), then compressed through the day. Compression after expansion often precedes the next directional break.
Because the day’s move was up, the statistical tendency is continuation upward unless the base breaks down.

Signal: Bias up, with tight invalidation below the base.

6) Volume profile / effort vs result (tape-reading principles)

Largest volume coincided with the upside impulse (05:00–06:00), indicating initiative buying.
Subsequent declines had smaller ranges and did not reclaim the lows—suggesting selling pressure is being absorbed.

Signal: Bullish (buyers defended the gains).

7) Candlestick / pattern read

Daily: Jan 20 is a heavy down day; Jan 21 is a strong bullish candle that recovers a meaningful portion—classic relief-rally trigger.
Hourly: the structure resembles a bull flag / ascending consolidation under resistance.

Signal: Bullish continuation setup.

24-hour forecast (probabilistic)

Base case (higher probability)

Upward drift / continuation with a retest of $0.00755–0.00760.
If broken with acceptance, price likely probes $0.00778–0.00782 (today’s high).

Upside extension (lower probability)

If $0.00782 breaks cleanly, next magnet is $0.00800–0.00810 (overhead supply zone).

Bear case (risk scenario)

Loss of $0.00720 on an hourly closing basis increases odds of a pullback to $0.00700, then potentially $0.00665–0.00650.

Net bias for next 24h: mild-to-moderate bullish, expecting 0.00755 → 0.00780 to be tested.

Trade plan (single decision)

Given the bullish intraday continuation setup and the strong rebound off $0.00646, the better risk/reward for the next 24 hours is a Long (Buy)—but ideally on a pullback toward support rather than chasing.

Optimal long entry zone: near the consolidation support to minimize downside.
Primary take-profit: just below the prior swing high (to improve fill probability).

(Not financial advice; crypto is highly volatile. Consider position sizing and stop placement around the invalidation level.)