Will Onyxco OIP-56 affect the price of Xcn?

Onyxcoin (Xcn) faced challenges last month, as it was largely stagnant. The lack of the upscale movement is likely to be the result of opposition forces – investment behavior and market conditions – which work on the encrypted currency.

However, there are some positive news surrounding the upcoming OIP-56 proposal, which will bring gas free Voting For users. This can serve as an operator for XCN’s high prices.

ONYXCOIN is exaggerated

NVT ratio (network value to transactions) Onyxcoin currently At a five -month height, indicating a sharp rise in the network evaluation in relation to transactions activity. This height indicates a possible estimate of Xcn, as the activity of the actual transactions of the network does not keep pace with its evaluation.

This contradiction can create a feeling of enlarged value, which historically indicates the correction of prices. While showing the NVT percentage between the price and the use of the real world, Onyxcoin can suffer from increased sale pressure if investors begin to realize excessive value.

Despite excessive value marks, ONYXCOIN does not face Significant momentum, as shown in that Relative power index (RSI). currently , Rsi He sits on the 50.0 neutral sign, indicating that although the market is less convenient, Xcn is still in a positive price area.

RSI position indicates that ONYXCOIN can remain relatively stable or even suffer from some upward momentum. If the wider market conditions improved or if OIP-56 succeeds in providing more benefit to the network, the price may have the ability to recover.

XCN Goals for Recovery

Onyxcoin price It is currently trading at $ 0.0180, as it is combined between $ 0.0214 and $ 0.0165. The lack of bullish momentum has prevented in the past few weeks the price from height above $ 0.0214, which reflects the market frequency.

Looking at mixed signals from both market morale and technical indicators, the price of Unyxcoin may continue to integrate this range at the present time.

This monotheism may continue unless the large catalyst pays the price in one direction. If market conditions worsen, ONYXCOIN may experience less than $ 0.0165, and may decrease to $ 0.0150.

This would increase the validity of concerns about the estimation of the cryptocurrency and can indicate a deeper correction in its price.

However, if Onyxcoin price It begins to compatible with the behavior of the investor and the bullish momentum, as it may exceed the resistance of $ 0.0214. This would pave the way for a possible rise to $ 0.0237 and at the end about $ 0.0300.

A successful breach of these levels would nullify the current downward expectations, indicating that there is a stronger upward trend for ONYXCOIN in the near future.