RUNE Technical Analysis: Reversal Rallies To The Resistance Trendline

The buyers–dominated $3.5 support level halts the RUNE coin price’s downtrend and pushed the price higher to the resistance trendline. Will the long-coming resistance trendline fall because of the newly found demand? Key technical points: The 50-day EMA provides dynamic resistance and keeps bullish growth in check. The Stochastic RSI indicator gives a bullish crossover in the daily chart. The 24-hour trading volume in the Thorchain token is $35 Million, indicating a 6% rise. Past Performance of RUNE RUNE coin price trades at $4.26 with a price jump of 9.52% in the last 24 hours, resulting in another bullish attempt to rise above the resistance trendline. The bullish demand met near the $3.5 stands firm against the bearish attack, for now, delaying the forecast in our previous article. Source-Tradingview RUNE Technical Analysis The RUNE coin price takes support slightly above the $3.5 horizontal level, leading to a bullish reversal to the long-coming resistance trendline. Let us now see what the technical indicators suggest above the upcoming trend. The Thorchain coin prices struggle to rise above the crucial 50-day EMAs despite multiple bullish attempts in the past months. Hence, the EMAs in the bearish alignment showcase a bearish trend in action. The RSI Indicator shows the slope spiking suddenly to reach the 14-day and cross above the 40% mark. Moreover, the slope gives a bullish divergence indication projecting a possible ...