Onyxcoin Faces Further Decline After Breaking Bear Flag Pattern

Onyxcoin (XCN) has experienced a significant decline of nearly 65% over the past month. According to NS3.AI, the cryptocurrency is facing additional downside risks after breaking below a bear flag pattern on the daily chart. Long-term holders are increasingly exiting their positions, with net selling rising by approximately 40% in just a few days, indicating a loss of confidence. The critical support level near $0.0050 is the last major demand zone, and a breach of this level could lead to a sharp sell-off toward approximately $0.0025 and $0.0017.