Deep Dive
1. Technical context
The price ($0.00122) sits below critical moving averages:
- 10-day SMA: $0.00138 (-11.6% gap)
- 21-day RSI: 52.89 (neutral but weakening)
The MACD histogram (-0.0000711) shows accelerating bearish momentum since June 10, while the 7-day RSI at 36.96 approaches oversold territory. Immediate support lies at the 50% Fibonacci retracement level ($0.00118), with a breakdown risk toward $0.00104 if selling persists.
2. Primary catalyst
The May 27 launch of NATIX’s Bittensor subnet initially drove a 15% rally, but prices reversed as traders likely took profits. The 24-hour trading volume spiked 146% to $1.04M during the drop, suggesting concentrated selling. With no fresh bullish announcements since the subnet launch, the narrative-driven momentum faded.
3. Market dynamics
Bitcoin dominance held steady at 63.28%, while the CMC Altcoin Season Index remained neutral at 30/100. The crypto fear & greed index dipped from 65 to 61 (“Greed” to “Neutral”), reducing risk appetite for mid-cap projects like NATIX.
Conclusion
NATIX’s dip combines technical resetting and sector-wide caution, though its AI subnet progress and 170M km mapped dataset offer fundamental support. Will improving RWA sector sentiment (per recent Chromia/Ondo rallies) help NATIX regain momentum if BTC stabilizes?