ThorChain (RUNE) and Fantom (FTM) Technical Analysis: What to Expect?
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ThorChain (RUNE)
The cross-chain liquidity protocol allows users to earn a yield on coins using RUNE for governance.
Past Performance of RUNE
RUNE prices are turning around after sinking in June 2021.
At the time of writing, ThorChain crypto is stable versus the USD and looking likely to close above $7 in a buy trend continuation.
Overly, the path of the least resistance is northwards as per ThorChain technical analysis in the daily chart.
Day-Ahead and What to Expect
Technically, ThorChain coin is exceeding expectations, galloping ahead of other DeFi tokens.
In the early Asian session, ThorChain token prices rose, rewinding losses of August 3.
In all, this indicates strength and the possibility of prices closing above $7 in a bullish breakout pattern, opening RUNE to $20 in the next few weeks.
RUNE/USDT Technical Analysis
The uptrend is firm. As per RUNE technical analysis, bulls are squarely in control.
In a bullish breakout pattern, a close above $7 would see RUNE/USDT buyers double down, targeting $20.
At present, conservative traders can wait for a solid confirmation before loading the dips.
Meanwhile, aggressive RUNE traders can load at spot rates targeting $20. A dump below $5.5 cancels the uptrend.
Fantom (FTM)
The platform enables users to launch DeFi services, leveraging its unique consensus algorithm using FTM as the primary currency.
Past Performance of FTM
FTM prices are printing lower lows relative to the upper BB, pointing to waning momentum.
Although buyers are still in contention, their position would be entrenched once there is a solid close above $0.25. Ideally, this ought to be with above-average trading volumes.
At the time of writing, FTM is down five percent versus the USD.
Day-Ahead and What to Expect
As per FTM technical analysis, the double-bar bullish reversal pattern of July 20 and 21 was confirmed, cementing FTM bulls.
However, FTM coin prices are recoiling from July 2021 highs.
A close above $0.25, as mentioned earlier, opens up FTM to $1 in the medium term.
FTM/USDT Technical Analysis
Buyers are in control reading from Fantom technical analysis in the daily chart.
While Fantom technical analysis shows that bulls can buy the dips, risk-averse traders can recoil back and wait for a close above $0.25.
At present, there is a three-bar bear reversal pattern from July 2021 highs. However, lower lows are with comparatively low trading volumes.
Losses below $0.20 and the middle BB nullifies the uptrend, paving the way for sellers targeting $0.15.