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$RUNE (1D) Analysis:
Moving Averages
MA 7: 3.533
MA 25: 4.203
MA 99: 4.929
Bollinger Bands
Upper Band: 5.452
Middle Band: 4.254
Lower Band: 3.056
Stochastic RSI (14, 14, 3, 3): 5.65 (indicating oversold conditions)
MACD
MACD Line: -0.179
Signal Line: -0.262
Histogram: -0.082 (indicating bearish momentum)
ADX (14 periods): 28.28 (indicating a weak trend strength)
BoP: 0.75 (indicating buying pressure)
CMF (20 periods): -0.06 (indicating a slight selling pressure)
Key Insights
Trend Analysis:
The price is currently below the 7-day, 25-day, and 99-day moving averages, indicating a bearish trend in the short, medium, and long-term periods.
The Ichimoku cloud's Leading Span B being below the price suggests potential support at 3.137, but overall bearish sentiment remains due to the price being under the cloud.
Volatility:
Bollinger Bands indicate significant volatility with a widespread between the upper and lower bands.
Stochastic RSI is in the oversold territory, which might indicate a potential buying opportunity if confirmed by other indicators.
The MACD histogram shows a negative value, indicating bearish momentum, though the gap between the MACD line and the signal line is narrow, suggesting potential for a reversal.
Trend Strength:
The ADX value of 28.28 suggests that the current trend (bearish) is weak and may not sustain without further momentum.
Buying/Selling Pressure:
The Balance of Power shows a strong buying pressure, while the CMF is slightly negative, indicating some selling pressure.
Summary
The current market sentiment for RUNE/USDT is predominantly bearish, with key indicators like moving averages, MACD, and Ichimoku cloud suggesting downward pressure. However, the oversold condition in the Stochastic RSI and the Balance of Power's indication of buying pressure could signal a potential short-term reversal or consolidation phase.
Despite all that, I'm still bullish on RUNE. Just saying......
Watch out for $BTC Dominance.
#BinanceSquareFamily #runecoin #technicalanalyst #technical_analysis #THORChain
Moving Averages
MA 7: 3.533
MA 25: 4.203
MA 99: 4.929
Bollinger Bands
Upper Band: 5.452
Middle Band: 4.254
Lower Band: 3.056
Stochastic RSI (14, 14, 3, 3): 5.65 (indicating oversold conditions)
MACD
MACD Line: -0.179
Signal Line: -0.262
Histogram: -0.082 (indicating bearish momentum)
ADX (14 periods): 28.28 (indicating a weak trend strength)
BoP: 0.75 (indicating buying pressure)
CMF (20 periods): -0.06 (indicating a slight selling pressure)
Key Insights
Trend Analysis:
The price is currently below the 7-day, 25-day, and 99-day moving averages, indicating a bearish trend in the short, medium, and long-term periods.
The Ichimoku cloud's Leading Span B being below the price suggests potential support at 3.137, but overall bearish sentiment remains due to the price being under the cloud.
Volatility:
Bollinger Bands indicate significant volatility with a widespread between the upper and lower bands.
Stochastic RSI is in the oversold territory, which might indicate a potential buying opportunity if confirmed by other indicators.
The MACD histogram shows a negative value, indicating bearish momentum, though the gap between the MACD line and the signal line is narrow, suggesting potential for a reversal.
Trend Strength:
The ADX value of 28.28 suggests that the current trend (bearish) is weak and may not sustain without further momentum.
Buying/Selling Pressure:
The Balance of Power shows a strong buying pressure, while the CMF is slightly negative, indicating some selling pressure.
Summary
The current market sentiment for RUNE/USDT is predominantly bearish, with key indicators like moving averages, MACD, and Ichimoku cloud suggesting downward pressure. However, the oversold condition in the Stochastic RSI and the Balance of Power's indication of buying pressure could signal a potential short-term reversal or consolidation phase.
Despite all that, I'm still bullish on RUNE. Just saying......
Watch out for $BTC Dominance.
#BinanceSquareFamily #runecoin #technicalanalyst #technical_analysis #THORChain