X

Thorchain Price Analysis: RUNE Crypto May Breakout From Cup & Handle Pattern

  • The RUNE crypto is in an uptrend, around 18.9%, during the intraday trading session.
  • The 24-hour trading volume is at $134 million.
  • RUNE/BTC pair is trading positive by 16.8% at 0.00023222 BTC.

Daily technical chart and price trend of RUNE Crypto is showing an upward trend. Based on the pivot level, the first support zone is 9.60 USDT. From another perspective, if it rushes, the resistance level to watch is 14.20 USDT. Thus, the graph made a bullish engulfing candle pattern during the day, and the cost is relied upon to remain upwards with unwavering high force.

The Moving Average Exponential (EMA) Ribbon, comprising of different Ema’s, goes about as solid support in the coin price move. Investors might notice the cost flies above the green ribbon, so it will guarantee an upswing in Thorchain until the cost dwells above.

Trading volume (4.077 M) is close to the 20-day moving average (5.796 M). To put it plainly, the volume is high and increasing, making the cost rush towards the resistance levels. Investors can likewise check that the volume bars on the graph are slanting, which demonstrates that exceptional instability is typical in the following trading days.

The MACD indicator gives (bullish) cross over the signal line on Sep 16, demonstrating a buy signal in the coin. Additionally, Investors can see the end of red bars on the Histogram index.

Thorchain (RUNE) Crypto if Breaks $11.65 Barrier Can Skyrocket

THORChain price today is $ 11.18 with a 24-hour trading volume of $ 134,460,395. The price of RUNE has risen 18.9% in the last 24 hours. It has a circulating quantity of 260 million RUNE coins and a total quantity of 500 million. The MACD points to a buying indication, and the traders have prompted high volume. In fact, the cost is marching towards the resistance regions and proceeds in an upturn. In like manner, with the general market perspective, the pattern stays bullish for coming trading days.

Resistance Level: $14.20

Support Level: $9.60

Categories: News
Nikhil Ingole: Mr, Nikhil Ingole is a Chief Editor at The Market periodical with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.