Onyxcoin price has stopped collapsing, but it is not free to rally yet. XCN is trading near $0.0069, down almost 50% from its early January peak near $0.0129. Since forming a local bottom on January 20, the price has tried to rebound, but a key push higher has stalled.

The reason is not fresh panic selling. It is the supply. Two major sell walls are now blocking a potential 50% upside move.

The downtrend is losing force, but resistance is immediate.

Between November 21, 2025, and January 20, 2026, the Onyxcoin price formed a higher low, while the Relative Strength Index (RSI) printed a marginal lower low. RSI measures momentum by comparing recent gains to losses. When price holds higher, but RSI falls further, it often signals that selling pressure is weakening rather than accelerating, a hidden bullish divergence.

That signal played out with a bounce from $0.0063 support but stalled at $0.0079.

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The rebound failed quickly near the first major supply wall, identified by cost-basis data.

A dense cluster of holders accumulated XCN near $0.0079, and when the price approached this zone, sellers stepped in to break even. This explains why the rebound stalled despite improving momentum. The RSI divergence limited downside, but the cost-basis wall capped upside.

This sets the stage for the second question: who could be absorbing that supply?

On-chain data shows buyers stepping in beneath resistance.

Since January 22, whale wallets increased their holdings from 42.58 billion XCN to 42.64 billion XCN, an addition of roughly 60 million XCN. At the current price, that equals about $420,000 accumulated during consolidation, not during euphoria. Even though they sold a bit, probably at the $0.0079 supply wall, their position remains net positive.

Retail wallets, holding between 1,000 and 100,000 XCN, have followed the same direction, adding gradually since January 19, reinforcing demand at lower levels.

Selling pressure exists, too. Up to January 22, exchange flows showed a net outflow of 48.01 million XCN, signaling accumulation. Since then, flows flipped to a small net inflow of 1.65 million XCN, indicating mild profit-taking rather than distribution. That happens to be the supply wall at play, where XCN holders might be taking profits.

Yet, whale and retail cohorts are currently offsetting exchange selling. That balance is why price continues to hold above $0.0063 even after the rejection near resistance.

But one more wall still matters.

Clearing the first wall is not enough.

Beyond the $0.0079 zone sits a second, heavier supply wall around $0.0086, where roughly 2.7 billion XCN were accumulated previously. This level also aligns with visible chart resistance, making it the true breakout gate.

If buyers manage to absorb supply at both levels, the overhang clears quickly. Above that $0.0086 zone, which also happens to be on the price chart, XCN faces limited historical resistance, opening the path toward $0.0104, a potential 50% rally from current prices.

The invalidation is equally clear.

If exchange inflows expand and whale accumulation slows, the $0.0063 support becomes vulnerable. A daily close below it would shift focus toward $0.0045, negating the recovery thesis.

The post Two Supply Walls Block A 50% Onyxcoin Price Rally — Can Whales Break Through? appeared first on BeInCrypto.

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