š Technical Analysis: RUNE/USDT - A Strong Bullish Momentum! š
The price of RUNE (Thorchain) has shown impressive bullish behavior in the last 24 hours, currently trading at $5.205, marking a +19.63% increase. With solid trading volume and strong momentum, RUNE/USDT presents potential opportunities for traders. Let's break down the technical setup and identify key price targets šÆ:
š Key Levels:
24h High: $5.291
24h Low: $4.345
SAR (Stop and Reverse): $4.592 (indicating a potential reversal zone)
šÆ Price Targets & Strategy:
1. Target 1 - $5.511
A strong resistance point observed in the recent price action. If the momentum continues, we could see RUNE testing this level. Breakout above $5.511 could fuel further bullish movement.
2. Target 2 - $5.060
Acting as a mid-term resistance, $5.060 is a potential target to keep an eye on. If RUNE can reclaim this level after consolidating above it, it might continue its bullish trend towards the higher targets.
3. Target 3 - $4.609
A significant support level as indicated by recent price fluctuations. If RUNE sees a pullback or slight correction, $4.609 could act as a solid support level before continuing higher.
š Volume Analysis:
24h RUNE Volume: 18.66M
24h USDT Volume: 88.00M
High volume suggests strong market interest, which supports the ongoing bullish trend.
