cryptoknowmics.com
ThorChain is a solid cross-chain DEX but RUNE is weak below $14. Meanwhile, Reef Finance may drop to $0.020 if last week's sellers flow back.
ThorChain (RUNE)
The cross-chain DEX is powered by an AMM using RUNE as the main currency.
Past Performance of RUNE
Following the expansion of early October, the ThorChain token is now cooling off. From the RUNE technical analysis of the daily chart, sellers are temporarily in control, forcing the coin back below the 20-day moving average.
Day-Ahead and what to Expect
RUNE crypto candlestick arrangement points to strength in the medium term.
However, as of now, the reversal of last week's gains and the negative slanting middle BB aren't ingredients of an uptrend.
Still, a close above $14 may see RUNEUSDT float higher.
If not, and RUNE coin slides below $9.5, the token might lose another 30 percent as we advance.
ThorChain Technical Analysis
RUNEUSDT technical analysis points to weakness in the immediate term.
Depending on the breakout direction, the RUNE coin price's trajectory would be defined.
In case of an encouraging expansion above $14, syncing with gains of October, RUNE may spring back to $20, finding support from the 78.6 percent Fibonacci retracement line.
This will also confirm the series of higher highs relative to the lower BB of the recent past few days. Deeper corrections below $9.5 might force RUNE back to $6.5.
Reef Finance
The EVM-compatible, self-upgradable, and decentralized DeFi platform built using Substrate use REEF as the central token.
Past Performance of REEF
Reef Finance token buyers are struggling in the face of sellers.
Even though there are flashes of hope in the REEF technical analysis of the daily chart, bears might take charge in the short term.
Currently, the REEF coin is quickly giving up on recent gains.
Day-Ahead and what to Expect
The middle BB is negative slanting and sellers are in the driving seat.
With REEFUSDT retreating from this week's highs, REEF looks fragile.
A break below $0.022 and last week's lows dashes buyers' hopes.
Meanwhile, it could be a revival if REEF bulls shake off recent weakness to print above $0.027 to confirm last weekend's uptrend.
Reef Finance Technical Analysis
Although there are glimpses of hope, REEFUSDT price action favors sellers.
The inability of bulls to unwind the damaging, high-volume sell bar of November 26 only serves to embolden sellers.
Therefore, while buyers stand a chance above the middle BB and $0.027, the probability of a drop below $0.022 is high.
In that eventuality, REEF prices might sink to $0.020—the 78.6 Fibonacci retracement line of the Q4 2021 trade range.