XCN has had a tough few weeks. After a brief rise above $0.020 in May, the price has been steadily declining, currently trading around $0.0134. The downward trend has been persistent, with lower highs and lower lows indicating that sellers are still in control. However, something important is starting to form on the chart — and this could be the first real sign that momentum may shift.

Looking at the 4-hour chart, the price of XCN recently bounced off a soft support area just above $0.0130. This is not the strongest support level we’ve seen, but it has held for a few candles, which is noteworthy given how sharp the selling was at the beginning of this month.

What makes this point even more interesting is that it is just below the 200-period moving average, currently around $0.01383. This line has acted as a ceiling for several weeks, but now the price is testing it again.

If XCN can reclaim the 200 MA and close a few candles above it with volume, this may be the first sign that the trend is starting to change. This does not guarantee a full reversal, but it may open the door for a short-term bounce to $0.015 or even $0.0165. These levels have already acted as resistance and are likely to be the next areas to watch if buyers intervene.
On the other hand, if XCN fails to reclaim this moving average and loses support at $0.013, there is a risk of another downward move. The next logical support area is around $0.0125, and if it is broken, we could see a move down to $0.011 or even $0.0098, especially if the broader market remains weak.
The RSI on the 4-hour chart is hovering around 37, which is close to the oversold zone. This suggests that the downward momentum may be slowing, at least temporarily. This is not a buy signal by itself, but combined with the support zone and proximity to the 200 MA, it’s enough to keep an eye on.

Right now, XCN is in a fragile position. It has not confirmed any trend reversal, but it is not breaking down further either. The next few days will be crucial. If the bulls can turn this 200 MA into support, things may start to look more optimistic. But if not, the decline may continue.

In short, XCN is struggling, but it is at a technical crossroads. A clean move above the 200 MA could completely change the tone. Until then, cautious optimism is the best approach.


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