The Trust Layer for Market Analysts

The analyst discusses Onyxcoin (XCNUSD), currently priced at $0.00668. He notes that a pennant pattern has formed but considers the potential for both upward and downward breakouts. He considers an upside break, and estimates bullish divergence can bring a recovery to $0.0073, or $0.0095. The daily timeframe's downtrend, characterized by lower highs and lower lows, often concludes in the oversold zone but can also exhibit bullish divergence. Reviewing the 1H RSI, it seems productive, showing higher lows but fluctuating between overbought and neutral positions. He speculates price action can continue upwards to 0.01 if trends continue to improve. However, he states in a bearish case, daily divergence suggests if the price falls below $0.005 it will imply the current structure won't hold.