Deep Dive
1. Technical Breakdown (Bearish Impact)
Overview: ACX is trading below its 7-day ($0.052) and 30-day ($0.0523) simple moving averages, a classic sign of near-term weakness. The 7-day RSI at 34.76 is nearing oversold territory but hasn’t reached extreme levels, indicating persistent selling pressure without a clear exhaustion signal.
What this means: When a price breaks below widely watched short-term averages, it often triggers stop-loss orders and discourages new buyers, creating a self-reinforcing downtrend. The current setup suggests the market lacks immediate buying conviction to reverse the slide.
What to look out for: A sustained move back above the 7-day SMA ($0.052) could signal a short-term recovery attempt.
2. Sentiment & Liquidity Drag (Bearish Impact)
Overview: Despite recent positive updates—such as dominating 54% of daily active bridge users (Demether)—the token remains overshadowed by serious allegations from June 2025 that the team misappropriated $23 million from the DAO treasury. These claims, though denied, have eroded long-term trust.
What this means: Negative governance narratives can create a persistent “sentiment discount,” making the token more vulnerable to selling on any market weakness. This effect is amplified by ACX’s relatively low liquidity (turnover of 8.2%), where modest sell orders can disproportionately impact the price.
Conclusion
ACX’s 24-hour decline stems from a combination of technical breakdown and lingering negative sentiment from past governance controversies, exacerbated by thin liquidity. For holders, this implies heightened short‑term volatility until either a technical reversal forms or a new, trust‑building catalyst emerges.
Key watch: Can ACX reclaim and hold above the 7-day SMA ($0.052) in the next 24‑48 hours, and are there any fresh on‑chain metrics or partnership announcements that could shift sentiment?