Onyxcoin (XCN) has faced a significant 40% drop in value over the past month. Despite this correction, the altcoin remains one of the best performers of 2025, and technical indicators suggest that the selling pressure is easing. There are signs that the downward momentum could be losing steam, and XCN might be poised for a potential trend reversal.

RSI Shows Growing Buying Interest

One of the key indicators signaling a possible shift in momentum is the Relative Strength Index (RSI), which has risen sharply to 53 from 42.6 just a day ago. This increase suggests that buying pressure is returning after a period of weakness. The RSI, a momentum oscillator that tracks price movements, ranges from 0 to 100. Typically, readings above 70 indicate overbought conditions, while readings below 30 suggest oversold conditions.

Currently at 53, XCN’s RSI is neither overbought nor oversold, which means that there is potential for further upside. If the RSI continues to rise towards 60, it would suggest increasing bullish momentum, potentially triggering a breakout. However, if the RSI stalls or declines, the token could face renewed selling pressure, keeping it in a consolidation phase.

ADX Indicator Shows Weakening Downtrend

Another important signal is the Average Directional Index (ADX), which measures the strength of a trend. XCN’s ADX has dropped to 13.5 from 18.47 in just a day, indicating that the current downtrend is losing strength. When the ADX is below 20, it suggests that the market is in a weak or indecisive phase. This could lead to consolidation or a potential reversal.

As the ADX continues to decline, it suggests that the bearish momentum behind XCN is fading. However, this doesn’t necessarily mean an immediate recovery. A sustained increase in buying activity would be needed to confirm a reversal and push the price higher. If the ADX starts to rise again, alongside an increase in bullish indicators, it would suggest that XCN is ready for a breakout.

Resistance and Support Levels: What to Watch

The key levels to watch for Onyxcoin’s potential reversal are its resistance and support zones. On the upside, $0.0149 is a critical resistance level that XCN must overcome to trigger further gains. If it manages to break this resistance, the next target would be around $0.0172, followed by a possible rally to $0.022—its first move above $0.02 since early March.

On the downside, if selling pressure intensifies, $0.010 will be a crucial support level. A breakdown below this level would be significant, as Onyxcoin has not traded below $0.010 since mid-January. A fall below this point could indicate that the downtrend is strengthening, and the token might be vulnerable to further losses.

Conclusion: Is Onyxcoin Ready for a Reversal?

While Onyxcoin (XCN) has seen a substantial decline over the past month, there are several signs that the downtrend is losing strength. The rising RSI and the weakening ADX suggest that selling pressure is easing, and a potential reversal is on the horizon. However, XCN will need to break key resistance levels and sustain buying momentum to confirm the shift.

In the coming weeks, if XCN can reclaim the $0.0149 resistance level and continue upward, the altcoin may be poised for a recovery. Conversely, if selling pressure resurfaces, the token could face further declines, especially if it breaks below $0.010. Traders will need to watch for a sustained rise in momentum to gauge whether XCN can make a successful reversal.