Onyxcoin (XCN) has experienced a 3% decline in the last 24 hours, following a remarkable 95% surge over the past week. This slight pullback is prompting uncertainties about the ongoing strength of the recent upward movement.

Various key indicators, such as RSI, BBTrend, and EMA lines, are displaying signs of weakening momentum. These indicators offer insights into the current situation of XCN.

The Relative Strength Index (RSI) for Onyxcoin has dropped to 49.28 from 56.74 within just two days. The RSI is a tool that gauges the momentum of an asset to determine if it's either overbought or oversold.

Typically, readings above 70 indicate overbought conditions, while readings below 30 signal oversold conditions. Levels around 50 suggest neutrality, indicating a balance between buying and selling pressures.

With XCN's RSI sliding slightly below the 50 mark, it hints at a potential waning of bullish momentum. This decrease implies that sellers might be gaining control, potentially leading to a more bearish lean in price action, reversing Onyxcoin's recent impressive performance.

While moving below 50 isn't a definitive sell signal on its own, it often acts as an early indicator of a potential stall in the uptrend. If the RSI continues to decline, there is a risk of further downward movement for Onyxcoin in the short term.

Additionally, Onyxcoin's BBTrend has significantly dropped to 20.27 from 64 over three days. BBTrend assesses the strength of a trend based on the width and expansion of Bollinger Bands.

With XCN's BBTrend now at 20.27, it points to a substantial loss of momentum, suggesting that the strong trend observed earlier may be diminishing, potentially leading to a period of ranging movement or a reversal in price.

Looking at the EMA lines for Onyxcoin, early signs of weakness are emerging, potentially indicating the formation of a death cross as the short-term average approaches the long-term average from above.

If this bearish crossover is confirmed, it could result in further downward movement, testing support at $0.0139. Breaking below this level could expose XCN to more extensive losses, with subsequent support levels at $0.012, $0.010, and $0.00849.

However, if buyers defend the $0.0139 level and ignite a rebound, Onyxcoin might regain upward momentum. In this optimistic scenario, the next resistance to monitor would be at $0.020, which could pave the way for a potential recovery toward $0.027.