Will the XCN and PRL rally continue after Upbit listing? | Credit: Veronica Cestari
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Key Takeaways
XCN and PRL prices surged after their Upbit listings, driven by increases in trading volume.
Both tokens show bullish momentum, but overbought conditions raise the risk of retracement.
If volume holds, the prices could continue higher, but fading demand may trigger a quick pullback.
Onyxcoin (XCN) and Perle (PRL) jumped sharply after securing a coveted Upbit listing.
The move quickly drew fresh liquidity and retail attention, with trading volume skyrocketing to levels not seen in months.
As a result, both tokens posted double-digit gains within hours.
However, there is a tougher question to ask.
Can momentum hold? If volume sustains, XCN and PRL prices could push higher.
If not, a swift pullback may follow. Let’s find out what’s next.
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Hours later, it followed through with a listing for PRL. As expected, the prices of Onyxcoin and Perle surged, with trading volume rising as well.
Perle (PRL) is a Solana-based “AI data layer” that connects enterprise clients to a global network of experts who provide high-quality, human-verified data for training AI models.
Onyxcoin, on the other hand, is the native utility and governance token for the Onyx Protocol, an infrastructure-focused ecosystem that includes a Layer-3 ledger built on Ethereum and a high-performance Layer-1 chain specifically for institutional finance.
On-Chain Data Present Thesis
From an on-chain perspective, Santiment data shows that the trading volume of both tokens has increased.
Zooming in on individual performance, Onyxcoin shows strong signals and is similar to thePerle crypto structure.
Notably, it may be entering a new bullish phase after violently breaking out of a falling wedge pattern that compressed price action for weeks.
The move came with strong impulsive expansion, often a sign that accumulation has ended and a trend reversal is underway.
Momentum is backing the move on the daily timeframe.
The Moving Average Convergence Divergence (MACD) has flashed a fresh bullish crossover, while histogram bars are expanding into positive territory.
That often signals strengthening upside momentum rather than an exhausted spike.
Meanwhile, the Relative Strength Index (RSI) has surged above 86, confirming aggressive buying pressure.
Admittedly, that also places XCN in overbought territory. However, in situations like this, overbought readings often signal strength rather than immediate reversal risk.
For now, though, the chart suggests this is not a random spike. It looks more like a structural breakout with potential for continuation.
And if volume follows through, XCN may be only in the early stage of a much larger move.
Therefore, some short-term cooling or retest of breakout support is possible. But unless XCN’s price breaks out of the wedge near $0.0063, bulls will likely retain control.
PRL Price Prediction
A similar strength profile on the Onyxcoin chart is visible in the Perle Crypto setup, though through a slightly more measured structure.
On the daily chart, PRL’s price has extended its bullish structure with an ascending parallel channel, climbing to $0.27 after a move that flipped short-term sentiment.
The price now trades above the 0.382 Fibonacci level at $0.25, signaling sustained buyer interest.
More importantly, the ascending trendline remains intact, confirming higher lows and steady accumulation.
Meanwhile, the Money Flow Index (MFI) hovers around 56, indicating moderate inflows without overheating. This suggests room for further upside.
Additionally, the Awesome Oscillator (AO) prints a strong green bar, reinforcing bullish momentum.
If volume sustains, Perle appears positioned for continuation rather than exhaustion.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
