#RUNE 's price action over the past few days looks like a downward-sloping channel
The highs have been moving lower all the way: 0.61, 0.60, 0.59, 0.58—stepping down one level at a time. The lows have followed suit, with $0.5455 marking the lowest point reached this week.
The current price is $0.55, right near the channel's lower boundary. RSI is at 19.7, already in oversold territory. MACD is still trending down in a death cross, but trading volume has been shrinking as the price falls: 24-hour volume has dropped from over $200 million a couple of days ago to $90 million.
If it holds above $0.5455, the first thing to watch is whether it can rebound toward around $0.577. If it can't hold this level either, the channel will continue lower.
The highs have been moving lower all the way: 0.61, 0.60, 0.59, 0.58—stepping down one level at a time. The lows have followed suit, with $0.5455 marking the lowest point reached this week.
The current price is $0.55, right near the channel's lower boundary. RSI is at 19.7, already in oversold territory. MACD is still trending down in a death cross, but trading volume has been shrinking as the price falls: 24-hour volume has dropped from over $200 million a couple of days ago to $90 million.
If it holds above $0.5455, the first thing to watch is whether it can rebound toward around $0.577. If it can't hold this level either, the channel will continue lower.
