“XCN” is preparing to correct a historical price

The UNEX Quinn coin (XCN) witnessed an amazing increase in its value during the past week, as it increased by 141% to reach $ 0.0202, but this quick increase made many investors wonder whether the currency has reached a saturation point?

Despite the large gains, there are some references to the possibility of a coming correction.

Investors in ONYXCOIN are skeptical

The Onix Quinn network witnessed an increase in growth earlier in the week, but this momentum faded quickly, which made the currency reach its lowest level in three months, and this sharp decline indicates that the demand for the distinctive symbol began to fade after the rise, and that investors expect a decrease soon, and that the increase in market fluctuations makes new investors hesitant to enter as the uncertainty continues in the broader market.

Technical indicators indicate a close price correction

The RSI is currently in the exaggerated area (higher than 70.0), which indicates that the currency has been excessively purchased and that a price correction may be imminent, and historically when the assets in the exaggerated area are often an indication of the endowment of the bullish momentum.

The price of Xcn faces decisive resistance

It has brought the last height of the Xcn currency near the important resistance level at $ 0.0237, which is a difficult level of breaking two months ago, and if Xcn is able to overcome this barrier, this may lead to more gains and may reach $ 0.0250, and this will prove that the last height is not just a short -term height and that the upward momentum can continue.

However, if Xcn fails to break the resistance level at $ 0.0237, the price may decrease again to $ 0.0182, with the possibility of further decline to 0.0150 dollars, and this may nullify the upholstery expectations and indicate that the last height was not sustainable.