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Dalmas Ngetich
Jul 4, 2022

THORChain Technical Analysis: Will RUNE Prices Hold Above $1.75?

THORChain Technical Analysis
THORChain is recovering, adding 14 percent in the last trading day. Still, RUNE prices are inside a rising wedge below a critical liquidation level at $2.5.

Past Performance of THORChain

THORChain crypto is up 14 percent in the last trading day and is amongst one of the top-performing assets. RUNE token is currently above the middle BB but inside a rising wedge, indicating possible bullish momentum. However, prices remain below critical liquidation levels at $2.5 and $3.3, respectively.

THORChain Technical Analysis

THORChain RUNE Daily Chart for July 4

The THORChain coin is bottoming up but still within an ascending wedge. The recent push above the middle BB must be confirmed further for a clear trend definition. Even so, because the recent wave higher from June 19 has rising trading volumes, risk-off traders can buy the dips. However, this preview is only valid if prices are above $1.75. Further gains places the next RUNE token target at $2.5, or June 25 highs.

What to Expect from RUNE?

THORChain is still technically bearish. Ideally, as per the RUNE technical analysis in the daily chart, buyers stand a chance as long as prices are above $1.75. Despite attempts higher, there must be a solid, high volume push above the middle BB and later, $2.5, for a clear trend definition.

THORChain Technical Analysis: Will RUNE Prices Hold Above $1.75?
Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.

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