Onyxcoin (XCN) Soars Following Key MA Breakout – Can Jasmycoin (JASMY) Do the Same?

Date: Sat, April 12, 2025 | 04:36 AM GMT

The cryptocurrency market has witnessed a notable turnaround after facing the brutal selloff on what traders have dubbed “Black Monday” earlier this week. Much of this rebound has been credited to U.S. President Trump’s announcement of a 90-day tariff pause, a move that injected fresh into markets crypto.

Among the altcoins leading the recovery charge, Onyxcoin (XCN) has emerged as a standout performer, posting a staggering 120% gain in just seven days. Jasmycoin (JASMY), though slightly more reserved, has still impressed with a solid 33% weekly rise and appears to be tracing a similar technical path to XCN.

Source: Coinmarketcap

Onyxcoin (XCN) and Jasmycoin (JASMY) Analysis

The left side of the chart shows Onyxcoin’s explosive move, which was catalyzed by a clean breakout from a long-standing falling wedge pattern—a bullish reversal formation often preceding strong price recoveries. On April 9, XCN not only broke above the wedge structure but also decisively cleared the 50-day moving average (MA), a level that had acted as strong resistance throughout the downtrend.

The breakout sent XCN soaring by 105% in a matter of time, and it currently sits with 120% total gains since the breakout began. Now, the price is testing a critical resistance zone at $0.02196. Should this level reject the price, a corrective pullback toward the 100-day MA may follow before the next leg up.

On the right side of the chart, Jasmycoin (JASMY) appears to be following in XCN’s footsteps. JASMY has broken out of its own falling wedge formation on April 11, signaling the early stages of a potential bullish reversal. It is now knocking on the door of the 50-day MA resistance, which mirrors the exact point where XCN launched its parabolic move.

If JASMY successfully clears the 50-day MA as XCN did, the next upside target would likely be the 100-day MA and the overhead resistance zone around $0.02272. That price level represents a potential 61% gain from where JASMY currently trades. With momentum building and market sentiment shifting bullish, traders are closely watching to see if history repeats itself.

What’s Next?

The price action of Onyxcoin has given the market a blueprint for what a successful reversal can look like following a prolonged downtrend. Jasmycoin now stands at a similar technical crossroads. If it can replicate XCN’s breakout structure and maintain strong volume, a significant rally could be on the horizon.

Both tokens are demonstrating classic reversal setups on the daily timeframe, with the MACD indicators also curling upward, hinting at strengthening bullish momentum. The next few sessions will be critical in confirming whether JASMY can deliver an XCN-style breakout or will face resistance that delays the move.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research and assess your risk tolerance before investing in cryptocurrencies.