RUNE recently underwent a hard fork, but the market reaction was muted, and the price of RUNE fell 70% in the past six months.
Key points:
Hard fork update: The hard fork introduced new features such as removing obsolete code and upgrading the Cosmos SDK, but failed to improve market sentiment.
Price performance: RUNE price fell 11% in the past week and is currently trading at $3.54, with market sentiment showing bearishness.
Technical indicators:
Bollinger Bands: Prices hit the lower Bollinger Bands, which usually indicates a possible price recovery.
RSI: The relative strength index (RSI) rises, suggesting a possible trend reversal.
Market signals: Social volume and long/short ratios rose, showing some bullish sentiment.
Future outlook: If the bulls gain strength, RUNE has the potential to rebound to $4.22; otherwise, it may fall further to $2.9.
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