Deep Dive
1. Technical Weakness (Bearish Impact)
Overview: REQ trades at $0.0943, below critical SMAs (7-day: $0.1018, 30-day: $0.1052) and near its 24h low of $0.09301. The RSI-7 at 17.01 signals extreme oversold conditions, while the MACD histogram (-0.0012) shows bearish momentum.
What this means: Oversold RSI readings typically suggest potential for a bounce, but sustained trading below the 200-day EMA ($0.1164) indicates structural weakness. Traders may be exiting positions due to lack of immediate catalysts.
What to look out for: A close above the 23.6% Fibonacci retracement level ($0.1073) could signal short-term relief.
2. Liquidity Constraints (Bearish Impact)
Overview: Gate.io delisted REQ perpetual futures in September 2025, shrinking derivatives liquidity. Spot turnover (volume/market cap) stands at 3.88% – below the 5% threshold for healthy liquidity.
What this means: Thin markets amplify price swings. The delisting likely forced leveraged traders to unwind positions via spot markets, exacerbating selling pressure. Reduced access to derivatives also limits institutional participation.
3. Security Incident Aftermath (Bearish Impact)
Overview: A September 2025 phishing attack via Request Finance’s front-end drained $3M from a user, despite the platform’s quick patching of vulnerabilities (Cryptoslate).
What this means: While isolated, the breach reinforced perceptions of smart contract risks in payment protocols. Trust-sensitive sectors like crypto payrolls (a Request Network use case) are particularly vulnerable to such sentiment shocks.
Conclusion
REQ’s decline reflects technical breakdowns, liquidity constraints from derivatives delisting, and residual caution after security incidents. The token now faces a credibility-rebuilding phase as it competes in the crowded payments niche.
Key watch: Can REQ hold the $0.093–$0.094 support zone, or will breaking this level trigger another leg down?