THORChain （RUNE） experiences a price rejection at the 200-day EMA, but analysts remain bullish on the token’s potential to cross the $5 mark.
Points
- RUNE rejected at the 200-day EMA, trading in a falling wedge pattern.
- Price reached $5 but faced rejection and turned back.
- Key support levels at $1.80 and $1.30.
- Immediate resistance levels at $2.40 and $3.00.
- RSI indicates potential for a bullish reversal if momentum is regained.
THORChain （RUNE） recently attempted to break past the $5 mark but faced significant resistance at the 200-day EMA. The token has been trading within a falling wedge pattern, characterized by lower lows, and showed signs of a bullish breakout before encountering rejection.
Despite the rejection, analysts remain optimistic about RUNE’s potential to regain momentum. The token is currently retesting the 20-day EMA mark. If it manages to reverse and maintain momentum above the $4.80 mark, it could potentially cross the $5 threshold. The price action remains neutral, but investors are closely watching for a stable recovery.
At press time, RUNE is trading at 0.0000664 BTC, with a market cap of $1.29 billion. The RSI curve reverted from the overbought zone, reaching the midline and indicating a negative crossover. A sustained upward trend would require breaking the $5 resistance, leading to potential gains towards $10, as highlighted by crypto analysts.
解説
- Falling Wedge Pattern: A bullish chart pattern that signals a potential reversal from a downtrend, characterized by converging trendlines.
- Relative Strength Index （RSI）: A momentum oscillator that measures the speed and change of price movements, indicating overbought or oversold conditions.
- 200-Day EMA: A widely used indicator in technical analysis that smooths out price data to identify the long-term trend direction.