Onyxcoin (XCN) is showing signs of life again, gaining 5.4% in the past week and seeing trading volume surge 77.7%, topping $82.3 million in 24 hours. This price action, coupled with a golden cross and rising RSI, is raising hopes among traders that XCN may be gearing up for a stronger rally. But the road ahead may not be as smooth as it seems.

Despite the upward momentum, mixed technical indicators suggest the market may not be entirely sold on a full-blown breakout just yet. With resistance holding strong at $0.020, Onyxcoin must overcome conflicting signals before convincing investors that its recent gains are sustainable.

RSI Climbs to 62 — Buyers Gain Strength

One of the more bullish indicators at play is the Relative Strength Index (RSI), which has surged from 46.15 to 62.29 over the past two days. RSI readings above 50 typically indicate bullish momentum, and the current reading signals that buying interest in XCN is growing steadily.

Still, the token is not yet in the overbought zone, which typically begins above 70. This gives the bulls more room to push higher before a potential correction sets in. Notably, XCN hasn’t hit overbought territory since April 23, suggesting this rally may still have legs — at least in the short term.

BBTrend Turns Negative Again — Bearish Pressure Returns

However, not all indicators are lining up in Onyxcoin’s favor. The BBTrend, or Bollinger Band Trend indicator, which measures the strength and direction of momentum, has turned negative again after a brief recovery.

Between April 29 and May 8, BBTrend values for XCN stayed negative, reflecting persistent downward pressure. That changed briefly on May 8, when the indicator flipped to a positive 2.66, offering a glimmer of hope for a trend reversal. But just hours later, the BBTrend collapsed back into bearish territory, dropping sharply from -1.41 to -2.69.

This rapid reversal suggests that the bulls may be running into stronger-than-expected selling pressure. Unless the BBTrend flips positive again soon, the current setup could restrict further price growth and expose XCN to another potential downturn.

Golden Cross Forms — Can It Trigger a Breakout?

Adding to the bullish case, Onyxcoin has just formed a golden cross, a widely followed pattern in technical analysis. This occurs when a short-term moving average (typically the 50-day) crosses above a long-term average (like the 200-day). Historically, a golden cross is viewed as a strong signal of an emerging uptrend.

With momentum building and trading volume surging, the setup looks promising. If buyers maintain control, XCN may soon challenge the long-standing resistance at $0.020. A clean break above this level could open the doors to $0.024, and potentially even $0.0273, levels not seen in recent weeks.

Onyxcoin has already climbed 118% over the past 30 days, making it one of the best-performing altcoins of 2025 so far. A successful breakout could extend that run even further.

Key Levels to Watch: Resistance and Support Zones

While the $0.020 resistance level is now the main battleground, failure to break it could lead to a pullback. Immediate support lies at $0.0175. If XCN fails to hold that level, further declines toward $0.0164 and $0.0156 could follow.

These downside targets are critical for bulls to defend if the rally stalls. A move below these levels would not only invalidate the recent uptrend but could also trigger a fresh wave of selling pressure.

Mixed Signals Mean Traders Should Stay Cautious

Onyxcoin’s recent performance is a textbook case of technical divergence: some indicators, like RSI and the golden cross, suggest bullish potential, while others, such as BBTrend, indicate growing downside risks.

For traders, the key over the coming days will be watching whether XCN can build on its current momentum and breach the $0.020 resistance. A sustained move above that line could signal the start of a larger breakout. But until that happens, the bearish undercurrents highlighted by BBTrend serve as a reminder to remain cautious.

As always in crypto markets, price movement is driven by a combination of technical signals, investor sentiment, and market liquidity. Right now, Onyxcoin is walking a tightrope between breakout and breakdown — and the next few trading sessions will likely determine its path.