TLDR
Push Protocol (PUSH) rose 5.15% in the past 24h, diverging from crypto’s -1.89% market dip. Here’s why:
1. Technical Rebound: Oversold RSI and bullish SMA crossover signal short-term recovery
2. Exchange Pair Removal: KuCoin’s June 2025 PUSH/BTC delisting stabilized liquidity post-selloff
3. Market Rotation: Neutral crypto sentiment favors micro-cap alts like PUSH
1. Technical Rebound (Bullish Impact)
Overview: PUSH’s RSI14 hit 35.36 (neutral-oversold) on August 19, while its price crossed above the 7-day SMA ($0.0388) and EMA ($0.0384). The MACD histogram (-0.00049) shows bearish momentum easing.
What this means: Traders likely interpreted the oversold RSI and SMA/EMA crossover as a buy signal, especially with PUSH trading near Fibonacci support at $0.0387 (50% retracement level). Low liquidity amplifies these moves – the token’s $2.14M 24h volume (+27% vs prior day) suggests modest inflows disproportionately impacted its $3.54M market cap.
What to look out for: Sustained closes above $0.0402 (38.2% Fib) could target $0.04118. Failure to hold $0.0387 may reignite selling.
2. Exchange Pair Removal Impact (Mixed)
Overview: KuCoin delisted PUSH/BTC on June 18, 2025, removing one of its 11 trading pairs. While initially bearish, the token retained USDT pairs, and 60-day returns remain +18.88%.
What this means: The delisting likely flushed out speculative holders in June, leaving a consolidated holder base. With 90.2M circulating supply and no unlocks until 2026, reduced sell pressure allows minor demand spikes to lift prices.
3. Altcoin Rotation Dynamics (Neutral Impact)
Overview: Bitcoin dominance dipped to 59.04% (from 59.98% in July), while the Altcoin Season Index sits at 43 – near “Bitcoin Season” thresholds but up 2.38% weekly.
What this means: PUSH’s micro-cap status makes it hypersensitive to risk-on shifts. With ETH (+13.2% dominance) rallying on RWA narratives, peripheral projects like PUSH (a Web3 communication protocol) may attract speculative flows despite lacking direct catalysts.
Conclusion
PUSH’s gain reflects technical buying in a thin market, amplified by post-delisting supply constraints and rotational altcoin interest. However, weak fundamentals (no protocol updates since Q2 2025) and -44% annual returns suggest caution.
Key watch: Can PUSH hold $0.04 amid declining global crypto volume (-3.15% 24h)? Monitor Fibonacci levels and ETH’s RWA momentum for directional cues.