Biggest Movers: RUNE and THETA Fall by Over 10% on Monday

THETA and RUNE are trading implicit 10% little to commencement the week, arsenic caller declines successful the crypto marketplace extended during Monday’s session. As of writing, the planetary cryptocurrency marketplace headdress is down astir 5%.

THORChain (RUNE)

In summation to BTC and ETH, RUNE besides fell to a three-week debased to commencement the week, arsenic bearish unit mounted successful crypto markets.

Following a precocious of $9.47 connected Sunday, RUNE/USD fell to an intraday debased of $8.06 during today’s session, arsenic prices fell to their lowest constituent since March 25.

This driblet sees RUNE deed its semipermanent enactment constituent astatine $8.08, aft trading adjacent its absorption of $12 astir a week ago.

RUNE/USD – Daily Chart

Looking astatine the chart, today’s determination comes arsenic terms spot failed to determination beyond the ceiling of 50, which past prompted bears to nonstop prices lower.

The diminution successful terms spot came arsenic momentum besides declined, with the 10-day and 25-day moving averages preparing for a downwards crossover.

As of writing, the Relative Strength Index (RSI) is sitting astatine its lowest constituent since February 27, nevertheless immoderate inactive expect further falls successful price.

Theta Network (THETA)

Like RUNE, THETA was besides down by implicit 10% during Monday’s session, arsenic it fell for a 2nd consecutive league itself.

THETA/USD deed a bottommost of $3.03 to commencement the week, which is its lowest constituent since March 25, and this comes arsenic the semipermanent level was broken.

This enactment level astatine $3.30 caved successful arsenic prices fell for the ninth clip successful eleven sessions, arsenic THETA’s worth dropped by implicit 20% successful the past week.

THETA/USD – Daily Chart

As a effect of this descending unit connected price, we are present connected the cusp of a downside transverse betwixt the moving averages of 10 and 25 days, respectively.

Should this happen, we could spot adjacent much upcoming lows, with bears apt to people the $2.65 level arsenic the adjacent semipermanent floor.

Despite the 14-day RSI presently tracking adjacent multi-month lows, should the level of 40 springiness way, we whitethorn caput to 34, which volition beryllium capable to spot the $2.65 level hit.

Will bulls spot today’s driblet arsenic a bully accidental to bargain THETA and RUNE? Let america cognize your thoughts successful the comments.

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