Multichain (MULTI) Price Prediction

TLDR
Multichain’s price faces high volatility risks due to unresolved legal liabilities, whale dominance, and competition, but technical momentum suggests short-term upside potential.
1. Legal liquidation from a 2023 hack could prolong sell pressure.
2. Whales control 96.6% of supply, risking volatility.
3. RSI at 79 signals overbought conditions.

Deep Dive

1. Project-Specific Catalysts

• Liquidation proceedings (approved May 2025) aim to recover $210M lost in a 2023 exploit (Sonic Labs). This could unlock trapped assets but may also flood the market with MULTI if recovered tokens are sold.
• Centralization risks: Former CEO Zhaojun had sole access to admin keys, undermining trust in governance. No roadmap updates since 2023 suggest stalled development.

2. Technical Outlook

• Bullish signals: Price surged 71% weekly (now $0.778), breaking the 50-day SMA ($0.544). MACD histogram (+0.0108) confirms upward momentum.
• Key levels: Immediate resistance at $0.81 (2025 high). A breakout could target $1.04 (161.8% Fibonacci extension). Support at $0.66 (pivot point) and $0.428 (swing low).
• Overbought risk: RSI (7-day) at 79 warns of potential pullback.

3. Sentiment & Supply Risks

• Whale dominance: Top 10 holders control 99.9% of tokens, per CoinMarketCap data. Large sell-offs could destabilize price.
• On-chain activity: 86% of addresses are long-term holders, but 24h volume spiked 1,945% to $1.43M, indicating speculative interest.

Conclusion

MULTI’s price hinges on legal asset recovery outcomes and whale behavior, countered by speculative technical momentum. Can Multichain’s legacy integrations (e.g., KyberSwap) offset its eroded trust in cross-chain DeFi?