Onyxcoin (XCN) has plunged by 15% in the past week and is poised to extend its decline as selloffs strengthen.
Adding to the bearish outlook, a key technical indicator is on the brink of forming a death cross, a signal that often precedes deeper price declines.
XCN At Risk of Sharp Decline
BeInCrypto’s assessment of the XCN/USD one-day chart reveals the potential formation of a death cross on its Moving Average Convergence Divergence (MACD).
This bearish pattern emerges when an asset’s MACD line crosses below the signal line, signaling a shift from bullish to bearish momentum. Such a pattern often precedes significant price drops, especially when accompanied by weakening volume and broader market uncertainty.
At press time, XCN’s MACD line is poised to cross below its signal line. If confirmed, the death cross would indicate intensifying selling pressure and signal the start of a prolonged downtrend.
Moreover, XCN’s double-digit decline over the past week has pushed its price towards its 20-day exponential moving average (EMA). This key moving average measures an asset’s average price over the past 20 days, giving more weight to recent prices.
XCN’s dip toward the 20-day EMA suggests that bulls are losing control, while sellers continue to dominate the market. If XCN’s price fails to hold above the key moving average, it may trigger a deeper correction.
XCN Bears Take Charge
XCN’s looming MACD death cross and its potential decline below the 20-day EM signals a strong shift toward bearish territory. These indicators suggest that bearish momentum is gaining traction, with buyers showing little strength to reverse the current downtrend.
If the decline continues, XCN’s price could fall to $0.0075.
On the other hand, a spike in new demand for XCN will invalidate this bearish outlook. In that case, the token’s price could reverse its ongoing decline, break above $0.0174, and climb to $0.023.
The crypto market shows positive signs in the second half of April 2025. Several divergence signals have appeared, suggesting a potential recovery for Bitcoin and altcoins.
Divergence is a key concept in data analysis. It happens when the values of two metrics suddenly shift and move in opposite directions compared to their previous trend. This often signals a change in price momentum. Based on expert analysis and market data, this article highlights five major divergence signals—three for Bitcoin and two for altcoins—to help investors better understand the market outlook.
3 Divergence Signals in April Point to a Bitcoin Price Rally
Historically, Bitcoin and the DXY Index (US Dollar Index) move in opposite directions. When DXY rises, Bitcoin tends to fall, and vice versa. But from September 2024 to March 2025, Bitcoin and the DXY moved in the same direction.
Joe Consorti, Head of Growth at TheyaBitcoin, noted that Bitcoin started decoupling from the US dollar after the announcement of the sweeping tariff regime. A chart from his post shows that in April, while the DXY fell sharply from 103.5 to 98.5, Bitcoin surged from around $75,000 to over $91,000.
Divergence Between BTC And USD. Source: Joe Consorti
This divergence may reflect investors turning to Bitcoin as a safe-haven asset amid global economic uncertainty caused by the tariffs.
“Bitcoin has been diverging from the US dollar since the US announced its sweeping tariff regime. Amidst this global economic reordering, gold and bitcoin are shining,” Joe Consorti predicted.
Another key divergence comes from Tuur Demeester, an advisor to Blockstream. He pointed out a separation between Bitcoin and the NASDAQ Index, which represents tech stocks. Historically, Bitcoin closely followed the NASDAQ due to its ties to tech and macroeconomic sentiment.
But in April 2025, Bitcoin started showing independent growth. It no longer moves in sync with the NASDAQ. While some, like Ecoinometrics, argue that this divergence isn’t necessarily bullish, Demeester remains optimistic.
Divergence Between Bitcoin And NASDAQ. Source: Ecoinometrics
“Bitcoin divergence” and “Bitcoin decoupling” will be dominant headlines for 2025,” Tuur Demeester said.
Specifically, NASDAQ has faced downward pressure from interest rate concerns and slowing growth. Meanwhile, Bitcoin has shown strength, with significant price gains. This suggests that Bitcoin is cementing its role as a standalone asset less tied to traditional markets.
Data from CryptoQuant highlights another divergence—this time in investor behavior. Long-term Bitcoin holders (LTH, those who’ve held BTC for over 155 days) began accumulating again after the recent local peak.
In contrast, short-term holders (STH) are selling off. This divergence often signals the early stage of a re-accumulation phase and hints at a future price rebound.
Bitcoin Long Term Holder Net Position Change. Source: CryptoQuant.
“Why This Divergence Matters? LTH behavior is generally associated with macro conviction, not speculative moves. STH activity is often emotional and reactive, driven by price volatility and fear. When LTH accumulation meets STH capitulation, it tends to signal early stages of a re-accumulation phase,” IT Tech, an analyst at CryptoQuant, predicted.
Altcoin Recovery Round the Corner
Divergence signals also appeared for altcoins, indicating a positive short-term outlook.
Jamie Coutts, Chief Crypto Analyst at Realvision, pointed to a key divergence using the “365-day new lows” indicator. This metric tracks how many altcoins hit their lowest point in the past year.
In April 2025, although altcoin market capitalization dropped to a new low, the number of altcoins hitting new 365-day lows decreased significantly. Historically, this pattern often precedes a recovery in altcoin market caps.
“Divergence shows downside momentum was exhausted,” Jamie Coutts said.
In simpler terms, fewer altcoins hitting rock bottom means less panic-selling. It suggests that negative market sentiment is weakening. At the same time, rising prices show renewed buying interest. These factors hint that altcoins may be gearing up for a recovery—or even an “altcoin season,” a period when altcoins outperform Bitcoin.
Another technical divergence comes from the RSI (Relative Strength Index) on the Bitcoin Dominance chart (BTC.D), noted by analyst Merlijn The Trader. This chart reflects Bitcoin’s share of the total crypto market capitalization.
“Bearish Divergence Spotted on BTC.D. Higher highs on the chart. Lower highs on RSI. This setup doesn’t lie. Altcoin strength is brewing. Watch for trade setups,” Merlijn said.
This pure technical divergence suggests that BTC.D might soon undergo a strong correction. If that happens, investors may shift more capital into altcoins.
The altcoin market cap (TOTAL3) rebounded by 20% in April, from $660 billion to over $800 billion. The divergence signals discussed above suggest that this recovery could continue.
PAWS, a popular Telegram Mini App, migrates to Solana in reaction to newly imposed requirements by the social media platform.
Telegram recently introduced a policy mandating all Mini Apps and third-party crypto wallets on its platform to exclusively operate on TON, sparking debates about decentralization and preventing multichain expansion. Under this arrangement, Telegram Mini Apps that operated across multiple blockchains had to choose between running solely on TON or leaving the ecosystem altogether.
Among the apps that faced this dilemma is PAWS, a SocialFi project rewarding users for engagement. Rather than remaining confined to a closed ecosystem, PAWS made the decision to migrate to Solana.
Boosting the Solana ecosystem
Moving PAWS’ quickly-amassed user base of 80 millions to Solana resulted in significant additional traffic and boosted the ecosystem. Since the migration, users downloaded over 9 million Phantom crypto wallets and funded more than 1 million new Solana addresses, all happening before PAWS’ token generation event (TGE).
Non-fungible token (NFT) vouchers offered by PAWS also became a significant presence on Solana-based NFT marketplace Magic Eden, sparking more than 100,000 transactions in two weeks. Such developments showcase that a committed community can follow a project through migration to a different chain if the underlying product remains accessible and engaging.
Value extraction versus value injection
The migration revived a long-standing debate revolving around value extraction and value injection. Many blockchain initiatives rely on short bursts of liquidity or speculative token trading, often resulting in value extraction from underlying ecosystems. These models can drive abrupt capital inflows and outflows, intensifying market volatility and exposing ecosystem participants to sudden risks.
The trend is especially relevant for Solana, where high volatility memecoins and recent rug pulls caused significant capital flight. In contrast, PAWS put emphasis on sustained user participation rather than relying solely on speculative token gains. By presenting a model that focuses on consistent engagement, the project seeks to build an ever-growing community growth.
Building an intellectual property
The Solana migration involves a rebranding process to turn the project into an intellectual property and position it as a long-lasting Web3 brand. Moving forward, PAWS aims to evolve from a viral Telegram application into a full-fledged Web3 brand with multiple revenue streams and strong community loyalty.
To achieve this, the project plans to grow its ecosystem through DeFi integrations, gaming partnerships and social engagement tools. Realizing the multichain possibility is on the radar as well, with plans to expand across Ethereum, layer-2 chains and beyond.
Beyond the crypto space, PAWS seeks to establish itself as a recognizable brand through real-world activations, strategic partnerships and mainstream media presence. A key part of this vision is a sustainable token economy, where holders and community members actively participate in governance and ecosystem development.
The transition from a highly engaged Mini App to a sustainable Web3 brand can set a large-scale example of how meme culture can evolve into a legitimate business model within the crypto space.
The broader significance of PAWS’ transition lies in its potential to set a precedent: Can Telegram’s retail-heavy user base become active participants in permissionless blockchain ecosystems? If successful, PAWS may serve as a model for future Web3 projects looking to bridge the gap between closed platforms and decentralized networks.
Dogecoin holders have been withdrawing their funds from spot markets in April, with the leading meme coin facing mounting selling pressure.
The lack of new capital flowing into DOGE reflects a decline in investor confidence and adds downward pressure on the altcoin.
Sell-Off Worsens for DOGE as Outflows Outpace Inflows
Since the beginning of April, DOGE has seen a consistent stream of net outflows from its spot market, totaling over $120 million. Net inflows during the same period have been negligible, amounting to less than $5 million per Coinglass.
When an asset records spot outflows, more of its coins or tokens are being sold or withdrawn from the spot market than are being bought or deposited.
This indicates that DOGE investors are losing confidence and opting to liquidate their holdings due to increasingly bearish market conditions.
The persistent outflows from the meme coin over the past two weeks reflect the lack of new demand for the altcoin. If this trend continues, DOGE’s price could remain range-bound or face another decline cycle.
On the technical front, DOGE’s Relative Strength Index (RSI) has continued to trend downward on the daily chart, further confirming the bearish outlook.
At press time, this key momentum indicator, which measures an asset’s oversold and overbought market conditions, is below the 50-neutral line at 47.61.
DOGE RSI. Source: TradingView
When an asset’s RSI falls below the center line, bearish momentum strengthens. This suggests that DOGE selling pressure is beginning to outweigh buying interest, signaling a potential dip in the asset’s price.
DOGE Risks Retesting Yearly Lows
With the crypto market’s volatility heightened by Donald Trump’s ongoing trade wars and DOGE’s current struggles to attract fresh investment, the meme coin may test new lows in the near term. If selling pressure strengthens, DOGE could revisit its year-to-date low of $0.12.
DOGE Price Analysis. Source: TradingView
Conversely, a resurgence in new demand for the meme coin will invalidate this bearish outlook. In that scenario, DOGE’s price could break above $0.17 and climb to $0.20.
