Over the last 24 hours, the price of $TREE has dropped by 5.29%, and the decline over the week and month is even more noticeable. Technical analysis shows that the Relative Strength Index (RSI) is around 27 — this is the oversold zone, which usually indicates selling pressure.
It is also worth noting that the total locked value (TVL) has reached $500 million but then slightly decreased. After reaching this milestone, many investors may have taken profits, which could also have caused the price drop. Additionally, negative funding rates are observed in the derivatives market, indicating bearish sentiment among traders.
Technical analysis indicates the formation of a "cup with handle" pattern, but after reaching a peak, the price pulled back. Fibonacci retracement levels and RSI oversold conditions show that traders are acting cautiously right now. High trading volume — over $47 million in 24 hours — confirms increased selling activity.
Looking more broadly, the cryptocurrency market as a whole has fallen by 4.4% during this period, so the decline of $TREE is partly related to the overall downturn. #Treehouse @Treehouse Official
