Where is the bottom for RUNE?
Well, after the RUNE lending protocol drama last week and the subsequent sell off price finally spiked after a flash crash just below $2.
The coin rallied to $2.87 before beginning to slide again. Now, we are near the lows again.
Is $2 the new floor or is there more damage to come???
Looking at the daily chart you can see cause for concern.
I'm playing it careful here and put on a trade that will stop out if we hot 1.90 as I'm not risking a big loss. We shall see what happens.
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I can imagine the feeling, I would act the same way
Honestly I wish this coin would be destroyed - I have nothing but bad memories of everything RUNE related - and I will never stop saying sell this crap and buy more Hive!
Its going to be rough for a while. But think that the proposals being layed out shows a way forward.
Some people will be pissed, but Thorchain just need to keep doing what it does best and confidence will comeback.