BlockchainBaller
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Bearish
BUY MORE OR SELL ❓.... Don't panic everything gonna fine sooooonnnnn #RUNE from $3 to $1 WTH is going on..... What's Reason Behind ❓#THORChain 's native token $RUNE recently faced a significant price drop due to concerns over insolvency, with liabilities far exceeding its available liquidity. The protocol has temporarily paused Bitcoin and Ethereum withdrawals to address these financial challenges.
Additionally, inflation of the token's supply and sell pressure from withdrawal mechanisms have contributed to the decline. The team is working on solutions to stabilize the situation and rebuild investor confidence. $RUNE /USDT Plummets to $1.081 – Oversold Territory.... $RUNE /USDT is currently trading at $1.081, reflecting a sharp 44.48% decline in 24 hours. After touching a low of $0.955, the market shows high volatility as sellers dominate the action.
Key Levels to Watch:
Resistance: $1.200 – A recovery above this level could spark bullish momentum toward $1.400.
Support: $0.950 – A breakdown below this level could lead to further decline toward $0.850.
Trade Setup:
Long Entry: Above $1.150, targeting $1.250 and $1.400. Stop-loss at $1.050.
Short Entry: Below $0.950, targeting $0.850 and $0.800. Stop-loss at $1.000.
Technical Insights:
RSI: At 10.67, signaling extremely oversold conditions. A potential rebound could occur.
MACD: Displays bearish momentum with no signs of a reversal yet.
#RunesProtocol
Additionally, inflation of the token's supply and sell pressure from withdrawal mechanisms have contributed to the decline. The team is working on solutions to stabilize the situation and rebuild investor confidence. $RUNE /USDT Plummets to $1.081 – Oversold Territory.... $RUNE /USDT is currently trading at $1.081, reflecting a sharp 44.48% decline in 24 hours. After touching a low of $0.955, the market shows high volatility as sellers dominate the action.
Key Levels to Watch:
Resistance: $1.200 – A recovery above this level could spark bullish momentum toward $1.400.
Support: $0.950 – A breakdown below this level could lead to further decline toward $0.850.
Trade Setup:
Long Entry: Above $1.150, targeting $1.250 and $1.400. Stop-loss at $1.050.
Short Entry: Below $0.950, targeting $0.850 and $0.800. Stop-loss at $1.000.
Technical Insights:
RSI: At 10.67, signaling extremely oversold conditions. A potential rebound could occur.
MACD: Displays bearish momentum with no signs of a reversal yet.
#RunesProtocol
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.