Market Analysis: XCN & LINK | May 2025
1. XCN (Onyx Coin) – Bearish Trend
Current Price: $0.015
Market Structure: XCN has formed a double top and is continuing its downward structure after failing to hold the $0.018 support.
Key Breakdown Level: $0.018 (previous decision zone)
Next Targets:
Target 1: $0.0145 (being tested now)
Target 2: $0.0100 (full bearish completion)
Entry (Short): Below $0.0145 (confirmation of breakdown)
Stop Loss: $0.0155
TP1: $0.0130
TP2: $0.0100
Note: If XCN bounces from $0.0145, it may retest $0.018 as resistance.
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2. LINK (Chainlink) – Cautiously Bullish
Current Price: ~$13.10
Support Area: $13.00 (neckline of double bottom)
Resistance Area: $15.00
Entry (Long): $13.10–13.20 (if support holds)
Stop Loss: $12.80
TP1: $14.20
TP2: $15.00
Breakdown Scenario: Closing two daily candles below $13.00 will invalidate bullish setup and open downside towards $10.00.
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Performance Comparison (7 Days):
XCN: -15%
LINK: -8%
LINK is currently showing stronger relative performance and is holding key support, making it more favorable for a long setup.
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Conclusion:
XCN is continuing its bearish move with $0.0145 and $0.0100 in sight unless a strong bounce occurs. LINK, on the other hand, is at a critical support zone that could provide a bullish bounce toward $15 if $13 holds.