THORChain (RUNE) Shows Signs of Recovery Amid Bearish Trend
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.