- RUNE price plunges below $4.80 support, with a 9% drop during the intraday session
- The trading price of the RUNE/BTC pair is 0.0001277 BTC, a decrease of 8.0%
- The 24-hour trading volume is at $48.397 Million
The daily technical chart of RUNE displays a death cross resulting in a price fall below $4.80 support. According to Pivot points (FIB), RUNE’s crucial support level is $2.60. Conversely, if it moves up, the necessary resistance level to observe is at $4.80. Hence, while the intraday chart makes a Bearish Harami candlestick pattern, divining prices may soon reverse to the downside with average dependability.
The exponential moving average (EMA) composed of 50,100,200-MA can be a reliable support for currency price changes. However, investors can observe that the price moves below the orange line, ensuring a downward trend until the price stays below the MA-200. Also, a death cross is visible on the chart.
Volume of (3.778M) is beneath the MA of 20-days (8.316M). Selling pressure is average in RUNE, making its price remain in a negative zone. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.
The Stochastic RSI (oversold) with a value of K-0 D-0 presents a sell signal in the coin. Investors may observe a declining slant and a negative crossover in the index. It may recover from the bottom in future trading sessions.
THORchain (RUNE) Price Breaks Support Shows no Signs of Recovery
The price of RUNE is $4.0, a loss of 9.0% in 24 hours and a weekly loss of 36.1%. In contrast, the market value is 1.088 billion US dollars. Technically, investors can notice that the price breaks below the $4.80 support and a death cross on the chart. Therefore, the Stochastic RSI indicator indicates a sell signal. On the token, trading volume is average. In addition, price movements may fall upto $2.60 in future trading hours.
Resistance level: $4.80
Support level: $2.60