- The RUNE price closed the previous day’s trade at $11.87 with a market capitalization of $4.06B and a circulating supply of 330,688,061.33 RUNE
- The asset flipped the bearish trend at the beginning of the present month and maintained a strong uptrend gaining more than 200%
- Thorchain price may attempt to close the monthly trade above $10 as the bulls current appears in a stable condition
Thorchain(RUNE) Technical-Analysis for Today: 30 March 2022
The RUNE price underwent a notable upswing through the previous day’s trade and is currently experiencing slight exhaustion. However, until the asset maintains above the double-digit figure, the price could be pretty bullish with a decent chance of a rebound. Woefully, the descending trend may continue for some more time but may remain firmly above $10. However, the price before the end of the day’s trade could hit these levels and attempt a rebound.
Thorchain(RUNE) Technical Analysis at a Glance
After the RUNE price smashed the highs beyond $20, the asset witnessed a drop and also attempted a notable recovery. However, despite a rejection, the price appears to be self-assured of regaining the lost positions. Therefore, a monthly close beyond $15 could validate a substantial uptrend since the beginning of the next quarter.
|Short-Term||The price appears slightly bearish and may reach the immediate support levels before attempting a rebound|
|Mid-Term||Despite a healthy pullback, the price remains bullish and could ignite a flip any time from now|
|Long-Term||The RUNE price has surged extremely high and may continue to do so until it reaches a specified target|
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||52.20 / 79.06||Sell / Overbought|
|MACD(12,26)||0.2 / 1.473||Buy / Buy|
|Average Directional Index(ADX)||34.85 / 42.63||Sell / Buy|
|Bull-Bear Power||-0.4 / 4.8||Sell / Buy|
|Average True Range(ATR)||0.33||1.08|
The RUNE price is extremely bullish in all time horizons. However, a couple of indicators point to an interim pullback but the majority remains neutral. Therefore, the possibility of a correction is pretty high as the price has just surpassed the crucial resistance at 50-day MA in STF.
On the contrary, the long-term forecast is pretty bullish. But the RSI has reached the overbought levels and hence a retest to the lower support is possible. However, the rally is pretty strong & still capitulated by bulls, therefore a rebound could be imminent.
Additional Read: RUNE Price Prediction.
RUNE /USDT Technical-Analysis for Short-Term
- The recent jump in the RUNE price had formed a huge poll of the bullish flag which was completed by the further consolidation
- The asset faced a pullback within a very narrow trend and is accumulating strength to pull a massive leg up.
- Once the price undergoes a notable flip from the bottom one can expect a notable uptrend towards the previous day’s highs initially
- However, they may continue to range high beyond $13 to hit $15 in the upcoming days to ignite a notable bull run
RUNE/USDT Technical Analysis for Long-Term
- The RUNE price has showcases yet another possibility of pulling a massive leg up as the price has reached the neckline of the Cup of the probable Cup and Handle pattern
- Once the asset rebounds from the pattern then it is very important to slice through the immediate resistance at around $16
- On the other hand, the price also has formed a huge double bottom pattern but a notable breakthrough may be validated only when the price surpassed the descending trend line
- However, the asset needs to clear the trend line and hit the immediate resistance at $17 to certify a strong uptrend
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