THORChain (RUNE) Shows Signs of Recovery Amid Bearish Trend

Coin Edition
Coin Edition

20 Nov 2023 1:56 PM

THORChain (RUNE) faces bearish pressure at $5.44, but bullish candlestick patterns and rising RSI hint at a potential reversal....

  • THORChain (RUNE) is facing bearish pressure as prices dip to $5.44.
  • Keltner Channel bands signal bearish pressure, but bullish candlestick patterns suggest a potential market mood shift.
  • RSI's rise above 50 indicates growing buying strength in RUNE's market.
  • The downward trend in prices is dominant, with resistance to bullish efforts.
  • If the bearish trend breaks through the intraday low of $5.40, it might lead to additional selling pressure.
  • Bulls retaking the intraday high and pushing prices above $5.58 could signal a possible reversal in the negative trend.
  • RUNE's market capitalization and 24-hour trading volume have fallen.
  • The Keltner Channel bands on the 3-hour price chart indicate significant bearish pressure.
  • Bullish candlestick patterns suggest a rebound off the lower band and a probable reversal.
  • The RSI reading of 43.93 indicates a possible rise in purchasing pressure.

The article discusses the bearish pressure faced by THORChain (RUNE) as prices dip. However, it also highlights potential signs of a market mood shift and rising buyer strength, indicating a possible reversal in the negative trend.

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You May Ask

What is the current price of THORChain (RUNE)?What are the support and resistance levels for RUNE?What do the Keltner Channel bands indicate about the market pressure?How does the RSI reading suggest a change in purchasing pressure?Are there any bullish signals on the price chart for RUNE?

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