THORChain price dips amid rising selling pressure

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Thorchain slides 10.92% today to $0.359

Highlights

RUNE/USD remains under sustained selling pressure, trading well below all major moving averages and opening near session lows.
Bearish technical momentum dominates as MACD, ADX, RSI, and oscillators all confirm a sellers' market with weak demand.
Price is expected to consolidate between $0.31 and $0.43 in the next five sessions, with a strong 80% probability of further downside.

Anton Kharitonov, expert at Traders Union, notes RUNE's persistent weakness, given a sharp price drop and heavy trading below all major moving averages. He sees no fundamental support from news or sentiment, with indicators like the ADX and MACD confirming bearish momentum. Weak RSI and negative AO signal the market remains under strong selling control. Resistance near $0.5090 is distant, and risk of a break below support at $0.31 remains elevated. "Current conditions suggest caution, as a lack of positive catalysts and strong selling pressure make recovery unlikely in the short term."

Viktoras Karapetjanc, expert at Traders Union, acknowledges RUNE's ongoing selloff but sees technical oversold signals as an early sign of opportunity. He notes that with volatility high, a swift mean reversion is plausible if sentiment or broader market dynamics shift. While immediate news flow is neutral, underlying structural resilience can lead to bullish setups as markets often reward patience near cycle lows. "I view the oversold conditions as fertile ground for tactical entries, and believe upside potential remains for those ready to act on positive momentum shifts."

Parshwa Turakhiya, analyst, observes that RUNE is suffering from both technical weakness and a lack of supportive sentiment. He points out the asset sits just above key support, which may attract short-term interest if intraday volatility persists. The analyst highlights the oversold technical setup as a possible catalyst for quick rebounds or range-bound trades. "For nimble traders, I see potential in playing the volatility bands between $0.31 and $0.43 if price reacts constructively near support."

Persistent downside momentum as RUNE moves toward oversold levels

Both the MACD and Average Directional Index (ADX) indicate persistent bearish momentum for RUNE, while the Relative Strength Index (RSI) stands at 33.78 — highlighting weak underlying strength. The Stochastic RSI and Commodity Channel Index (CCI) suggest RUNE is approaching oversold territory, and the Bull/Bear Power (BBP) at –0.0119 confirms sellers are dominating intraday moves. Awesome Oscillator (AO) is negative and aligned with these downward signals. The nearest resistance is at the Ichimoku Kijun $0.5090 level, and price action shows ongoing weakness as the session remains near the day's low with elevated intraday volatility of 13.71%.

Earlier, analysts noted that THORChain was experiencing persistent bearish pressure and downside risk amid heightened volatility. The current setup reinforces this outlook, making the $0.31 support a critical level to watch for potential further declines or a shift to more stable price action.

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

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