Latest SubQuery Network (SQT) Price Analysis

Deep Dive

1. Primary catalyst

The 24h drop aligns with cooling interest in SubQuery’s July 16 AI infrastructure announcement (SubQuery) and July 21 product awareness campaign. With no fresh catalysts since, traders likely took profits from the 178% 24h volume spike – a classic “buy rumor, sell news” pattern.

2. Technical context

• Price broke below 7-day SMA ($0.001135) and 30-day SMA ($0.001146)
• RSI-7 at 39.09 shows bearish momentum but no oversold signal
• MACD histogram (-0.00000487) confirms downward pressure
  Key support sits at the July 22 swing low ($0.001032), which held during the drop.

3. Market dynamics

Bitcoin dominance rose 0.27% to 60.25% in 24h, pressuring altcoins. The Altcoin Season Index fell 10.9% as traders rotated to safer assets amid a 1.2% total crypto market dip. SQT’s 0.38 turnover ratio shows liquidity risks – high volatility with modest volume.

Conclusion

SQT’s drop reflects fading event momentum, BTC dominance shifts, and inherent volatility from concentrated ownership. Technicals suggest cautious sentiment, but oversold conditions haven’t materialized.
Could SubQuery’s AI integration and $60M rewards program regain developer traction to stabilize prices?

Deep Dive

1. Technical Context

• RSI-7 at 79.69 (overbought) reflects aggressive short-term buying, though RSI-14 (67.53) and RSI-21 (60.16) show room for continuation.
• MACD histogram turned positive (+0.0000249) for the first time since May 2025, signaling bullish momentum.
• Price broke above the 10-day SMA ($0.00124) and 50-day EMA ($0.00141), with Fibonacci retracement levels suggesting next resistance near $0.00157 (23.6% level).

2. Market Dynamics

• Sector divergence: While Bitcoin dominance rose to 63.82% (up 0.11% in 24h), SQT’s rally defied the broader altcoin stagnation (Altcoin Season Index at 29/100).
• Turnover ratio of 0.45 indicates moderate liquidity, allowing sharper moves on volume spikes. The 24h volume surge to $1.8M—5.3x the 30-day average—points to trader-driven volatility.

Conclusion

SQT’s move appears technically driven, amplified by low liquidity and speculative volume. While bullish momentum is intact, the overbought RSI-7 and lack of confirmed fundamental catalysts raise sustainability questions. Could traders front-run a potential announcement, or is this a liquidity squeeze?