Price Position and Structural State
Subsquid (SQD) closed at 0.03398 USDT on May 29, 2026, down 6.29%. The asset now sits in a sideways structure inside its 55-day range. Current 55-day support is near 0.0276 USDT, with resistance near 0.04568 USDT. Price is near the middle of the range, so the market has no clear structural edge until it closes outside these levels.
Moving Averages and Trend Context
SQD is trading below all key moving averages, but the weakness is still early rather than deeply stretched. MA100 at 0.035387 USDT stands as the first moving-average resistance area to reclaim. Price sits 4.29% below MA50, within a historical range of -59.37% to 116.18%. The structure is bearish, but downside extension remains inside its normal range.
Trading Friction and Price Efficiency
SQD shows moderate trading friction, with a 3-day friction score of 60.0. The score combines price progress, wick rejection, and volume confirmation. Recent candles show mixed acceptance, so price is moving but still showing some noise. Moves near support or resistance need a cleaner daily close before they carry stronger weight.
Open Interest, Funding, and Positioning
Open interest fell -13.83% in one day and remains near the lower side of its 180-day range. This shows participation is weak and exposure is still being reduced.
Funding is positive on the 24-hour average at +0.005000%, with the 7-day average also positive at +0.005035%. This shows sustained long-side cost pressure across both short and medium windows.
The long/short ratio is 2.57, showing more long accounts than short accounts. It sits near the middle of its 60-day range, so this is a long tilt without clear historical crowding.
Correlation, Beta, and Index Relationship
SQD shows a moderate relationship with the broader crypto market (Sigloid Index). Correlation indicates partial co-movement with the index, while R² suggests that index behavior explains only part of its movement. This means broader market direction has some influence, but asset-specific factors remain important. Over the 30-day window, the relationship is weakening. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.565 | 2.044 | 0.319 | Moderate linkage |
| 60D | 0.459 | 1.225 | 0.21 | Moderate linkage |
| 180D | 0.334 | 0.674 | 0.112 | Moderate linkage |
Momentum, Volatility, and Indicator Pressure
SQD is moving more day to day, but participation remains weak. ATR% reads 11.14, above its 90-day range, while Bollinger Band width% reads 23.09, close to the bottom of its full historical range. 20-day Volume Z-score is -0.79.
Momentum is weaker. RSI is 42.48, ROC14 is -14.75%, and MACD histogram is negative. These readings point in the same direction: downside pressure is active, while recovery pressure remains limited.
The read is cautious: downside momentum is active, but volatility and participation do not confirm a strong break yet.
Broader Market Regime
The Sigloid Index remains in a sideways regime, showing no clear broad market direction. SQD has a moderate link to that market condition, so broader market moves can influence price behavior, but the effect is not consistent.
Key Levels for the Next State Change
For SQD, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 0.04568 USDT establishes a bullish regime, while a daily close below 55-day support at 0.0276 USDT confirms a bearish regime.