The price of $C has fallen below the 7-day moving average ($0.21) and the 30-day moving average ($0.26). The Relative Strength Index (RSI7) is 34.77, indicating oversold conditions, but there are no signs of a reversal upward. The MACD histogram has turned negative (-0.00119), confirming the downward trend.
Traders often use moving averages as dynamic support or resistance. A break below $0.21 could trigger stop-loss orders and automatic sell-offs. Although the RSI is close to the oversold level, the lack of divergences and sharp spikes in volume (trading volume over the last 24 hours increased by 54% to $23.35 million) indicates weak buyer interest.
Chainbase ($C ) has decreased by 5.83% over the last day due to a combination of technical pressure, a lack of fresh positive news, and a general decline in the cryptocurrency market, while trading volumes are increasing, indicating active selling.#Chainbase @Chainbase Official
