Latest Function X (FX) Price Analysis

Deep Dive

1. Technical Context

FX’s 7-day RSI reached 81.6 (above 70 = overbought) before the drop, creating natural sell pressure. The price fell below the critical 23.6% Fibonacci retracement level ($0.1637), accelerating downward momentum. While the MACD histogram showed bullish divergence (+0.0022), the MACD line remained below its signal line, failing to confirm sustained upside.

The 24-hour trading volume of $1.05 million (-2.5% from prior) lacked the fuel to absorb sell orders, exacerbating the drop. Low liquidity (turnover ratio 1.06%) means even moderate selling disproportionately impacts price.

2. Market Dynamics

FX underperformed the broader crypto market (-2.2% vs. -12.5%), suggesting coin-specific factors. The Fear & Greed Index at 70 (Greed) shows traders remain risk-on overall, but altcoins with weaker fundamentals like FX saw sharper corrections.

Whales control 84% of FX’s supply, making it vulnerable to concentrated selling. While 88% of addresses are long-term holders, the token’s 30-day price correlation with BTC fell to 0.64 (vs. 0.78 average), reducing Bitcoin’s stabilizing influence.

Conclusion

FX’s drop appears driven by technical rebalancing after overbought conditions, compounded by thin liquidity and whale-driven volatility. Watch whether the price stabilizes above the $0.1185 swing low – a break below could signal deeper correction.

Could FX’s AI pivot (via Pundi AI’s NVIDIA partnership) reignite demand if development milestones are met?

Deep Dive

1. Primary catalyst: AI pivot and partnerships

FX rebranded as Pundi AI in 2024, focusing on AI data marketplaces and decentralized annotation tools. On May 29, 2025, Pundi AI announced its acceptance into NVIDIA’s Inception Program (CryptoSlate), a key validator for blockchain-AI projects. This coincided with a 757% volume spike, suggesting traders priced in growth from AI utility and partnerships with Flop AI/Siren AI.

2. Supporting factors: SGX FX ticker confusion

Singapore Exchange (SGX) reported $4.5T annual FX futures volume on June 9 (Finance Magnates). While unrelated to Function X, the “FX” ticker likely triggered speculative buys from traders misinterpreting the news.

3. Technical context

• MACD bullish crossover: Histogram turned positive (+0.00097) after 7-day consolidation.
• RSI divergence: 7-day RSI rose to 48.29 despite recent price dips, signaling weakening bearish momentum.
• Price broke above 7-day SMA ($0.1258) and EMA ($0.1256), confirming short-term bullish structure.

Conclusion

FX’s rally combines AI progress, ticker-driven speculation, and technical momentum. Watch for sustained volume above $1M and clarity on whether the SGX news was a false catalyst. Could Pundi AI’s upcoming partnership announcement extend gains, or will the “FX” ticker confusion lead to a correction?