Date: Fri, April 11, 2025 | 06:50 AM GMT
The cryptocurrency market is beginning to shift gears into recovery mode, especially after U.S. President Trump’s surprise announcement of a 90-day pause on tariffs — a move that has lifted investor sentiment across risk assets.
Among the early movers, Onyxcoin (XCN) has taken center stage. The token has skyrocketed by 84% over the past 24 hours alone, topping the list of today’s highest gainers. Meanwhile, Jasmycoin (JASMY) is also showing promising signs, posting a 9% gain — and its chart structure hints that a larger move could be brewing, much like what we just saw with XCN.
Onyxcoin (XCN)
On the daily chart, XCN experienced an explosive rally of 1,800% in January 2025. However, the surge was followed by a deep retracement of 84%, forming a textbook falling wedge — a common bullish reversal pattern.
This correction bottomed out around $0.0075, where XCN found support both at the wedge’s lower trendline and near its 200-day moving average (MA).
On April 9, XCN broke out decisively from the wedge, reclaiming the 50-day MA and igniting a sharp rally. As of now, the token has surged over 120% from its breakout point and is trading near the critical resistance zone at $0.020.
Jasmycoin (JASMY)
Currently trading near $0.01230, JASMY is pressing up against wedge resistance and its 50-day MA, similar to where XCN was just days ago before its breakout.
JASMY has followed a near-identical technical trajectory to XCN. It rallied more than 200% in late 2024 before entering an 85% correction that carved out its own falling wedge structure. After bottoming out around $0.0082, Jasmycoin is now showing early signs of life.
If momentum builds and JASMY can break through this confluence of resistance, it could kickstart a strong recovery phase — potentially targeting the next key resistance zone near $0.02157, an 83% jump from current levels.
What’s Next?
Both XCN and JASMY are showing compelling technical setups, with falling wedge breakouts historically acting as powerful springboards for upside. XCN has already begun its breakout run — and now, eyes are on Jasmycoin to see if it can follow suit.
With improving sentiment in the broader market and increasing bullish momentum on charts, these two tokens could be early leaders in the next leg up of the altcoin cycle.
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