According to market data, Onix Quinn (XCN) has experienced a nearly 5 % growth over the past 7 hours and has been able to overcome the $ 1.5 resistor; The level that has prevented the price of the digital currency several times over the past two weeks.
This dramatic growth has happened as the Ramsar market rise, but Anechin’s data shows that rising real demand and increasing users’ active participation have played a more prominent role in the climb.
According to the data of the St., the daily trading volume of XCN has reached $ 5 million, with a 5 % leap; The increase that usually reflects market interest growth and the approval of the uptrend by traders.
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Alongside this growth, the number of active daily addresses has reached a new record in the last 7 days, indicating more users’ participation and possibly institutional investors in the XCN.
However, the future market look at the XCN is slightly different. Funding Rate 4.1 % in the Fouchers’ market shows that the majority of traders in the market still expect the price to decline on Onyx Quinn.
The XCN price crossing the $ 1.5 dam can pave the way for $ 1.5. But if the profit harvesting phase begins, the price is likely to be returned to the support level of $ 1.2 and $ 1.2.
In general, the analysis shows that the XCN is now in a sensitive stage. Increasing trading volume, growth of active addresses, and key resistance failure are all positive signs to continue the uptrend, but derivative market fluctuations and short -term correction should not be overlooked.
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