Oh my god, looking at this chart $KORUB makes life feel so bleak, guys š. These past few days, every time I open the Binance app and see it all red, I just want to close it for my own good š« . Anyone still holding $KORUB must be hurting to the bone, but hey, letās laugh to make it hurt a little less š„².
Looking at the bigger picture, $KORUB is in a long-term downtrend on the 1D timeframe. The price is below all the major MAs, as if the whole market is weighing it down. The weekly RSI is hovering around 31.04, near oversold territory, but thereās still room for it to plunge furtherābrutal š. Last week, KORUBUSDT plunged -24.06% in just 7 days. It really is a falling knife with no brakes. Data from 5/11 also shows that selling pressure is still intense, with open interest rising and sell volume dominatingāit's all new short positions being opened.
On the 1H timeframe, the price at $7.30 is trying to lift its head a little, but the MA7 ($7.0514) and MA25 ($7.2944) are still above it, while the MA99 is way up at $9.8492 š®āšØ. That MA99 could be the toughest dynamic resistance if thereās a fake bounce.
Looking at the bigger picture, $KORUB is in a long-term downtrend on the 1D timeframe. The price is below all the major MAs, as if the whole market is weighing it down. The weekly RSI is hovering around 31.04, near oversold territory, but thereās still room for it to plunge furtherābrutal š. Last week, KORUBUSDT plunged -24.06% in just 7 days. It really is a falling knife with no brakes. Data from 5/11 also shows that selling pressure is still intense, with open interest rising and sell volume dominatingāit's all new short positions being opened.
On the 1H timeframe, the price at $7.30 is trying to lift its head a little, but the MA7 ($7.0514) and MA25 ($7.2944) are still above it, while the MA99 is way up at $9.8492 š®āšØ. That MA99 could be the toughest dynamic resistance if thereās a fake bounce.
