THELOGICALINDIAN - THETA and RUNE are trading over 10 lower to alpha the anniversary as contempo declines in the crypto bazaar continued during Mondays affair As of autograph the all-around cryptocurrency bazaar cap is bottomward about 5
THORChain (RUNE)
In accession to BTC and ETH, RUNE additionally fell to a three-week low to alpha the week, as bearish burden army in crypto markets.
Following a aerial of $9.47 on Sunday, RUNE/USD fell to an intraday low of $8.06 during today’s session, as prices fell to their everyman point back March 25.
This bead sees RUNE hit its abiding abutment point at $8.08, afterwards trading abreast its attrition of $12 about a anniversary ago.
Looking at the chart, today’s move comes as amount backbone bootless to move above the beam of 50, which again prompted bears to accelerate prices lower.
The abatement in amount backbone came as drive additionally declined, with the 10-day and 25-day affective averages advancing for a downwards crossover.
As of writing, the Relative Strength Index (RSI) is sitting at its everyman point back February 27, about some still apprehend added avalanche in price.
Theta Network (THETA)
Like RUNE, THETA was additionally bottomward by over 10% during Monday’s session, as it fell for a additional after affair itself.
THETA/USD hit a basal of $3.03 to alpha the week, which is its everyman point back March 25, and this comes as the abiding attic was broken.
This abutment akin at $3.30 caved in as prices fell for the ninth time in eleven sessions, as THETA’s amount alone by over 20% in the aftermost week.
As a aftereffect of this bottomward burden on price, we are now on the bend of a downside cantankerous amid the affective averages of 10 and 25 days, respectively.
Should this happen, we could see alike added accessible lows, with bears acceptable to ambition the $2.65 akin as the abutting abiding floor.
Despite the 14-day RSI currently tracking abreast multi-month lows, should the attic of 40 accord way, we may arch to 34, which will be abundant to see the $2.65 akin hit.
Will beasts see today’s bead as a acceptable befalling to buy THETA and RUNE? Let us apperceive your thoughts in the comments.
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