Deep Dive
1. Technical Resistance (Bearish Short-Term Impact)
Overview:
T faced rejection at the $0.0168 pivot point, a key technical level identified in the Fibonacci retracement analysis. The price currently sits below both the 7-day SMA ($0.0166) and 30-day SMA ($0.0163), with the MACD histogram (+0.000133) signaling weakening bullish momentum.
What this means:
Traders likely took profits near resistance after the 2.9% weekly gain, creating downward pressure. The RSI (52.47) shows neutral momentum, suggesting consolidation rather than panic selling. A sustained break below $0.0163 (30-day SMA) could signal further downside.
What to watch:
- Immediate support at $0.0162 (July swing low)
- MACD crossover below signal line would confirm bearish momentum
2. Altcoin Liquidity Drain (Mixed Impact)
Overview:
The crypto market saw spot volumes drop 23% in the last 24h, with altcoins particularly affected as BTC dominance ticked up to 56.93%.
What this means:
Capital rotated toward Bitcoin amid muted risk appetite, hurting smaller caps like T. However, the Altcoin Season Index remains elevated at 74 (+72% monthly), suggesting this is a temporary pause rather than a sustained bear trend.
3. Delayed Network Growth Impact (Neutral)
Overview:
Despite Threshold’s July integration of tBTC on Sui (projected to bring $500M+ Bitcoin liquidity), on-chain traction has been gradual. tBTC’s TVL remains at $566M, unchanged since early September.
What this means:
The integration’s bullish narrative hasn’t yet translated to measurable protocol growth or speculative buying. Traders may be awaiting concrete metrics like TVL spikes or bridge volume increases before re-entering positions.
Conclusion
T’s dip reflects technical resistance and sector-wide caution, but key fundamentals (tBTC adoption, DAO governance activity) remain intact. The price action resembles consolidation after a 2.9% weekly gain rather than structural weakness.
Key watch: Can T hold above the 30-day SMA ($0.0163) to maintain its 90-day uptrend (+8.37%)? Monitor Sui ecosystem BTC inflows and Threshold’s Q3 revenue report for catalysts.