Jami
07/13 07:35
After six months of waiting, XCN breaks free
After six months of waiting, XCN breaks free
XCN pierced the apex of a descending wedge that’s held it in check for half the year. The breakout pushed price to $0.01518, with prior resistance near $0.014 now potentially flipping to support.
As seen in the chart, Onyxcoin tried to break the upper trendline several times before advancing up.
In case the XCN price declines to maintain above $0.015, a retracement might be experienced, which might bring it to the lower trendline of the wedge.
The crucial support targets at $0.014 and $0.012 would determine whether the altcoin can loop.
The movement out of the wedge was a bullish indication, and in case the price maintained to stay above $0.015, new highs might be expected up to the next resistance level at $0.03, which ought to be broken.
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