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RUNE Price Eye’s at 20% Upswing By the End of Q1 2022

THOR Technical Analysis


Key Takeaways

  • 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

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

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 $11.21 $6.06
Moving Average(MA)-200 $9.64  $7.83
Resistance $13.27 $17.5
Support $9.5 $8.5

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 25.7 58.73
Ultimate Oscillator 43.2 58.03
Average True Range(ATR) 0.33 1.08
CCI -132.4 196.45

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

Source: Tradingview

  • 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

Source: Tradingview

  • 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

Where & How to Buy Thorchain(RUNE)

Investing in Thorchain (RUNE) or any other crypto asset is extremely simple on CoinDCX. To register, just download the CoinDCX App on your smartphone and enter the required details. Once your details are verified, just fund your wallet and buy Thorchain or any of your favorite crypto. 

CoinDCX has made investing much simpler and safer with its newly launched Crypto Investment Plan(CIP). The plan enables you to invest in your desired crypto in weekly installments for a predefined period. Therefore, start in Bitcoin & other cryptos with Crypto Investment Plan now!


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to .
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 



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