Deep Dive
1. Profit-Taking After Parabolic Rally (Bearish Impact)
Overview: MXC surged 500% in late May 2025 after reactivating mining programs and launching its Initial Hardware Offering (IHO). The 24-hour drop aligns with typical profit-taking behavior after extreme rallies, as traders secure gains.
What this means: Short-term holders likely exited positions near the $0.0048 resistance level, a key Fibonacci retracement zone. The token’s 90-day decline (-69%) also reflects lingering skepticism about sustainability despite recent ecosystem updates.
What to watch: Holding above the 30-day SMA ($0.000917) could signal stabilization, while a drop below $0.000545 (yearly low) may extend losses.
2. Technical Resistance and Momentum Shift (Mixed Impact)
Overview: The 4-hour chart shows MXC struggling to hold the EMA 20 ($0.000718), with RSI (44.23) hovering near neutral. The MACD histogram turned positive, but the signal line remains below zero, indicating weak bullish confirmation.
What this means: Traders are cautious after the price failed to breach the 61.8% Fibonacci level ($0.0048). The lack of volume (-3.2% in 24h) suggests diminished buying pressure, leaving the token vulnerable to further corrections.
3. Liquidity Constraints from Delisting (Bearish Impact)
Overview: OKX delisted MXC in April 2025, citing compliance with exchange guidelines. While Moonchain migrated to a Layer-3 zkEVM network, the delisting reduced accessible liquidity, exacerbating price swings.
What this means: Lower liquidity amplifies volatility during sell-offs, as seen in the 24-hour turnover ratio (0.445), which indicates moderate market depth.
Conclusion
MXC’s drop reflects a cooling-off phase after speculative fervor, compounded by technical resistance and lingering liquidity challenges. While the project’s DePIN and IoT use cases provide long-term potential, short-term risks dominate.
Key watch: Can MXC stabilize above the 200-day EMA ($0.0016917), or will profit-taking push it toward yearly lows? Monitor trading volume and ecosystem updates for directional cues.