Technical analysis$PROVE shows that the relative strength index (RSI) for 7 days is 40.14, which is close to the oversold zone. The price is below the 7-day moving averages (SMA and EMA), indicating a downward trend. The resistance level (pivot point) at $1.09 — if the price cannot overcome this, further decline is possible.
It is also worth considering that out of a total supply of 1 billion tokens, 195 million are in circulation, and future unlocks may increase selling pressure, but this is a long-term concern. The current trading volume is $50.9 million, which is 32.84% higher, indicating an activation of trading, likely with a predominance of sales.
Conclusion: the main reasons for the price drop of Succinct (PROVE) are sales after the airdrop, profit-taking after listings on major exchanges, and weak altcoin dynamics against the backdrop of Bitcoin's rising dominance. Technical indicators confirm the downward trend, and the market context intensifies the pressure on the price. It is recommended to monitor token flows to exchanges and Bitcoin dynamics for understanding further movements.