Recently, the ACX funding rate has weakened, leading to a rise in bearish market expectations. In the short term, ACX faces pressure and has fallen back, with the support and resistance levels in the range being $0.0420 and $0.0456 respectively. Currently, trading volume is shrinking and the range-bound pattern remains unbroken. If funding rates recover and the price effectively breaks above $0.0456, a bullish trend may start; conversely, breaking below $0.0420 will increase downward pressure. Strategically, it is recommended to wait for a clear direction and strictly control range risks. From a medium- to long-term perspective, focus on project fundamentals and evaluate intrinsic valuation and allocation timing with on-chain data.

After Bitcoin returned to the $72,000 mark, funding rates on major exchanges have continued to decline, reflecting rising bearish sentiment in the market and a growing wait-and-see attitude among bulls. As a result, ACX opened high on April 9 but came under pressure and fell back, with the intraday low reaching $0.04237 and finally closing at $0.04241. In the short term, bulls took profits noticeably and tested support around $0.0420.

Since mid-March, ACX has been moving in a narrow range between $0.042 and $0.0456. Among these, $0.0409 serves as recent support, while $0.0456 marks the resistance level. After a volume breakout on April 7, trading volume quickly decreased, indicating intensified battles between bulls and bears inside the range, with no clear direction. Currently, volume remains subdued. If a breakout of the range is accompanied by a substantial increase in volume, the move will likely be more sustained.

Considering both the funding rate and technical structure, if the funding rate stabilizes and rebounds in the short term, pushing the price above $0.0456 resistance, this may signal the start of a new bullish trend. Conversely, if the support at $0.0420 is breached, further downside risks should be monitored. In the medium to long term, it is recommended to continuously monitor on-chain and project developments to assess whether its intrinsic value matches the current range-bound price.

Across Protocol

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Live chart for Across Protocol to USD conversion. Check out ACX to USD prices in real time. Convert, buy, sell, and trade Across Protocol on Bybit-eu.

Across Protocol Price: ACX Live Price Today | ACX Market Cap & Chart Analysis | Bybit-eu

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ACX price today is 0.05, with a live price change of 2.68 in the last 24 hours. Convert, buy, sell and trade ACX on Bybit-eu.

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