Bearish momentum and technical breakdown

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Thorchain slides 8.52% to $0.376 today

Highlights

RUNE is trading at $0.376, below its MA-20, MA-50, and MA-200, indicating persistent seller pressure and a strong bearish trend across all timeframes.
The daily chart shows negative momentum—MACD and ADX are bearish, RSI is at 39, and today’s price dropped 8.52%, confirming high volatility and seller dominance.
Key levels are immediate resistance at $0.4140 and support at $0.340, with a projected five-day trading range of $0.340 to $0.415 and less than 20% probability of a significant upward move.

Bearish trend pressure intensifies as resistance and momentum indicators align

Technically, the Ichimoku Kijun sits at $0.4140, above the current price, establishing immediate resistance at this level. On the daily chart, negative momentum is confirmed by bearish MACD signals and a high ADX value. The RSI reads 39, pointing to potential further downside, while the Stochastic RSI and Commodity Channel Index do not signal oversold conditions on D1, though shorter timeframes are nearing oversold. Bull/Bear Power direction is classified as "Buy" but near zero, suggesting no clear intraday dominance between buyers and sellers, yet the prevailing trend is bearish. Volatility is high with today's range at $0.375 – $0.401 and selling pressure persistent throughout the session.

Further declines favored as low reversal odds cap short-term range

Over the next five trading days, the expected trading corridor is $0.340 to $0.415, reflecting typical volatility at current levels. With all trend and momentum indicators on both daily and weekly timeframes signaling "Sell" and a very low probability (less than 20%) of an upward reversal, further declines are more likely. The baseline scenario anticipates sideways consolidation within this range, unless a breakout above $0.4140 or a breakdown below $0.340 triggers directional follow-through.

Viktoras Karapetjanc, expert at Traders Union, sees RUNE moving steadily within a clear bearish setup. He notes that all momentum and trend signals confirm downward pressure, and the absence of supportive news adds to weak sentiment. Consolidation is probable unless $0.4140 is broken to the upside or $0.340 fails as support. Still, Karapetjanc finds room for optimism in potential volatility and tactical ranges. "If RUNE holds above $0.340 and sentiment improves, a rebound could follow, but staying alert to sudden shifts is key."

Recently, analysts noted that THORChain (RUNE) is trading above the short-term MA-20 but remains below its key medium- and long-term moving averages, while momentum indicators show strong bearish signals and volatility remains elevated. Despite oversold RSI and other oscillators hinting at potential for a short-term bounce, sellers maintain control and the asset faces resistance near the Ichimoku Kijun level with support just below current pricing.

Source of Data: RUNE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.