Onyxcoin Faces Price Drop Amid Market Volatility

Onyxcoin (XCN) recently saw a 12% decline in its price, leading to panic selling among short-term investors and a notable rise in exchange balances. According to NS3.AI, technical indicators such as the MVRV Long/Short Difference indicate that the selling pressure might be diminishing as short-term traders face reduced profitability. A bullish flag pattern suggests the possibility of a 150% rally if the token can overcome key resistance levels. However, there are still risks of further decline if support levels do not hold.