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Vikram
Mar 26, 2022
by Vikram

RUNE Technical Analysis: Uptrend Soon To Break Above $10

RUNE
RUNE coin price shows a remarkable reversal of almost 200% from the $3.5 mark. First, however, the psychological barrier at $10.

Key technical points:

  • RUNE coin price jumps 20% after the $8.5 retest.

  • In addition, the 50 and 100-day EMAs give a bullish crossover.

  • Finally, the 24-hour trading volume of Thorchain is $424 Million, marking a 56% rise. 

    • Past Performance of RUNE

    RUNE coin price shows a sudden buying pressure surge with the resistance trend retest. The retest rally surpasses the $6.5 resistance zone and all the crucial bearish EMAs in the daily chart. The coin price continues the bullish rally after the $8.30 retest, accounting for a 20% jump in the last 48 hours. 

    TradingView Chart

    RUNE Technical Analysis 

    RUNE coin price shows a rounding bottom breakout in the daily chart with a neckline at $8.30 horizontal level. The retest rally shows a 20% jump with bullish engulfing candlesticks continuing the uptrend journey.

    The Thorchain token price trades above all the crucial EMAs in the daily chart, with the 50 and 100-day EMA giving a bullish crossover. If the uptrend continues, we can shortly see a golden crossover.

    RSI Indicator: The RSI slope retests the overbought boundary and continues the trend higher above the 70% mark. Moreover, the 14-day SMA reaches into the overbought zone.

    MACD Indicator: The MACD and signal lines continue the bullish journey in a favorable alignment after udenrmining multiple bearishc crossover attempts. Hence, the MACD histograms grow in the buoyant sector despite the few multiple falling trends. 

    In a nutshell, the RUNE technical analysis projects a highly bullish trend in motion that may shortly surpass the $10 mark.

    Upcoming Trend 

    RUNE coin price shows a high momentum uptrend that can shortly reach the $11.5 horizontal level. Moreover, the potential golden crossover can push the uptrend to the $13 mark. 

    Support Levels: $9 and $8.5

    Resistance Levels: $11.5 and $13

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    RUNE Thorchain
    RUNE Technical Analysis: Uptrend Soon To Break Above $10
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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