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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 post Onyxcoin (XCN) Faces Strong Bearish Pressure as Death Cross Looms appeared first on BeInCrypto.

Cardano (ADA) is up 4% on Monday, trying to hit $0.65, showing signs of renewed bullish momentum. Technical indicators are beginning to align in favor of buyers, with the BBTrend turning positive for the first time in days and the DMI signaling strengthening upward pressure.

ADA is also nearing a potential golden cross formation on its EMA lines, which could further support a breakout if resistance levels are cleared. With momentum building and key levels in sight, Cardano is entering a critical zone that could define its short-term direction.

Cardano Shows Early Signs of Recovery as BBTrend Turns Positive

Cardano BBTrend has just flipped back into positive territory at 0.11, following four straight days in the negative zone. This shift, though subtle, may be the first sign of momentum stabilizing after recent weakness.

BBTrend, or Bollinger Band Trend, is a technical indicator that gauges the strength and direction of a trend based on how wide or narrow the Bollinger Bands are.

When the bands begin to expand and BBTrend moves into positive values, it often suggests growing volatility in favor of an emerging bullish trend. On the other hand, prolonged negative readings typically signal fading momentum and a lack of directional strength.

While a BBTrend of 0.11 is still low and not yet signaling a strong uptrend, the fact that it turned positive marks a potential inflection point.

It suggests that selling pressure may be fading and the price could be entering a recovery phase if buying activity increases. This early uptick in BBTrend often precedes a broader move.

Traders will likely be watching closely to see if this positive shift is sustained in the coming sessions, as continued gains in BBTrend could indicate the beginning of a more defined upward move for ADA.

Cardano Buyers Regain Control as Uptrend Shows Early Strength

Cardano Directional Movement Index (DMI) is showing a notable shift in momentum, with its Average Directional Index (ADX) climbing to 17.79, up from 13.77 yesterday.

The ADX measures the strength of a trend, regardless of its direction, on a scale from 0 to 100. Values below 20 suggest a weak or non-existent trend, while readings above 25 typically confirm that a trend is gaining strength.

ADA’s ADX is still below the 20 threshold but rising steadily—indicating that momentum is building and a stronger directional move could soon take shape.

Looking deeper, the +DI (positive directional indicator) has jumped to 26.38 from 16.30 just a day ago, signaling increased buying pressure. Although it has slightly pulled back from an earlier peak at 29.57, it remains firmly above the -DI (negative directional indicator), which has dropped significantly from 22.72 to 13.73.

This widening gap between the +DI and -DI suggests a clear shift in favor of bulls, with buyers regaining control after a brief period of selling pressure.

If the ADX continues to rise alongside a dominant +DI, it could confirm a strengthening uptrend for Cardano.

Cardano Nears Golden Cross as Bulls Eye Breakout—but Key Support Still in Play

Cardano price is approaching a potentially bullish technical development, as its EMA lines suggest a golden cross may form in the coming sessions.

A golden cross occurs when the short-term moving average crosses above the long-term moving average, often signaling the start of a stronger uptrend.

If this crossover is confirmed and ADA manages to break above the resistance at $0.668, the next upside targets sit at $0.709 and $0.77—levels not seen since late March.

However, if ADA fails to maintain its upward trajectory and the momentum fades, downside risks remain in play.

A drop back toward the $0.594 support would be the first sign of weakness, and a breakdown below that level could expose the asset to deeper losses, with $0.511 as the next key support zone.

Price action around the $0.668 resistance will likely be the deciding factor.

The post Cardano (ADA) Indicators Show a Potential Golden Cross Forming appeared first on BeInCrypto.

PI is poised to unlock over 250 million tokens in June, a move that could significantly intensify the selling pressure already weighing on the altcoin.

With technical indicators showing dwindling investor interest, PI could slide to its all-time low of $0.40 or even breach that threshold.

Pi Network Braces for June Unlock

According to data from PiScan, Pi Network is scheduled to unlock 276 million PI tokens in June. At market prices, these tokens are currently valued at approximately $176 million. 

With market participants already cautious due to ongoing price weakness and low trading volume, the timing of this unlock could be particularly disruptive. Generally, an influx of tokens leads to heightened selling pressure, especially when investor sentiment is already bearish and there is no adequate demand to absorb the new supply.

This is the case with PI, as readings from its daily chart show signs of a continued decline in capital inflows. For example, the token’s Relative Strength Index (RSI) is in a downward trend and below the 50-neutral line at 40.49.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

PI’s RSI readings indicate a preference among market participants for distribution over accumulation. If this trend continues, its price could continue to slip. 

Furthermore, the token’s Aroon Down Line is at 86%, confirming the strength of the decline. The Aroon indicator is used to identify trend direction and strength. When the Aroon Down line is close to 100%, it suggests that recent price action has consistently hit new lows, indicating strong bearish momentum. 

At 86%, Pi’s Aroon Down level signals that the asset has been making lows with high frequency, with little to no correction recorded recently.

 Pi Price Slips Toward $0.40 — Breakdown or Bounce Ahead?

At press time, PI trades at $0.63. With strengthening selling pressure, PI bears could push its price toward its all-time low of $0.40. 

If this support floor fails to hold, the altcoin could fall to new lows.

However, a resurgence in new demand for the token would invalidate this bearish outlook. In that scenario, PI could rebound and rally toward $0.86.

The post Why Pi Network’s 275 Million Token Unlock Could Trigger Decline to All-Time Low appeared first on BeInCrypto.