RUNE Technical Analysis: Trendline Collapses Under Bearish Pressure

RUNE coin price experiences a bearish attack at $12.5, resulting in a downfall below the support trendline and approaching the $10 mark. Key technical points: RUNE prices have decreased by 13.14% in the past 24 hours. In addition, the 100 and 200-day EMA are on the verge of bullish crossover. Finally, the 24-hour trading volume of Thorchain is $308 Million, marking a 21% rise. Past Performance of RUNE RUNE coin price showcases a solid bull run from the $3.5 mark to the $12.5 high within a month, resulting in a support trendline. However, the sudden bearish reversal breaks below the support trendline and approaches the $10 mark with a slid bearish candle. Hence, the indicator may shortly test the 50-day EMA. Source-Tradingview RUNE Technical Analysis RUNE coin price has fallen by almost 18% in the last four days resulting in multiple bearish candles with long-range. Moreover, the fallout of the $10 barrier increases significantly and threatens a free fall to the $8.30 mark. As the Thorchain prices fail to continue the uptrend, the downfall approaches the 50-day EMA and delays the 100 and 200-day EMA crossover. RSI Indicator: The RSI slope falls from the overbought territory and crashes below the 14-day average to hit the halfway mark. Hence, the downfall indicates the possibility of a decline below the $10 mark. MACD Indicator: The MACD and signal lines promote underlying bearishness with the recent negative crossover in the da...