Tornado Cash (Torn) recently witnessed a sharp gathering, increasing by 40 % over the past 24 hours. This increase was primarily driven by removing the Tornado Cash from the list of sanctions at the US Treasury to combat foreign assets (OFAC).
Although the price height was important, the market may prepare to decline as it adapts to the news.
Tornado cash skyrockkets
The last Tornado Cash Rally prompted the RSI index (RSI) after a 70.0 threshold, indicating that the encryption is currently arrested.
This level is often seen as a sign of saturation of the market, as the altcoin momentum has reached its climax. Historically, once RSI crossed the 70.0 sign, the price reflection usually follows, indicating that the correction may be imminent.
The excessive peak state in the peak indicates that the bullish feelings that lead the march lose the steam. With the continued unification of the price or the decline, the risk of low prices increases, which makes the current price not in sustainable in the short term.
Tornado Cash indicates more challenges. CHAIKIN (CMF), which measures the average accumulation and distribution distributed in size, is currently stuck in the dumping area.
He has been away from the zero line for a long time, indicating that the pressure pressure is still exceeding pressure.
In addition, Tornado Cash has seen its highest flows since its inception, which reduces expectations. These external flows indicate that investors are increasingly continuing, weakening the capabilities of the long -term recovery of the symbol.
Without significant flows to counter external flows, torn will face difficulty in maintaining or extending their recent gains.
The ripped price raised a hurricane
Tornado Cash is currently trading at $ 11.77, an increase of 41 % in the past 24 hours. Altcoin also pointed out a high increase per day by 88 %. Over the past 12 days, Torn has gained 135 %, which represents a strong performance in the short term.
However, with the presence of the distinctive symbol at these high levels, it faces major negative risks.
Looking at the excessive peak and downtling maccular mint, the torn is vulnerable to falling through the main support levels at 11.63 dollars and $ 9.75. The breach of these levels can be sent to the price to $ 7.36, which expands the correction and is likely to contain recent gains.
On the other hand, if Tornado Cash can keep its bullish momentum and carry more than $ 11.63, it may refresh. This can pave the way for the price to be happy for $ 15.81.
A successful gathering to this level would nullify the thesis of the landing. It will also enhance recent prices, indicating the possibility of further bullish direction.
Disintegration
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