Thorchain Despite prevailing bearish sentiment in the cryptocurrency sector, RUNE price surged by 11.76% in the last 24 hour and 25.40% over seven days.
After encountering resistance near the psychological level of $10.000, bullish momentum waned, leading to a correction of 56.32% for #Thorchain.
Subsequently, $RUNE token traded sideways and formed a double bottom pattern.
Currently, RUNE is maintaining above the 200 Day EMA but faces resistance from the 50 and 100 Day EMA.
A breakthrough above the 50 and 100 Day EMA could indicate a strong uptrend in the future.
A rise above the resistance level of $6.150 would bolster bullish sentiment, potentially testing the upper resistance level of $7.300.
According to Coin Gabbar analysis, Conversely, a reversal in bearish trend would lead RUNE to lose momentum and potentially drop towards the crucial support level of $4.300.
KEY LEVELS :
RESISTANCE LEVEL : $6.000-$7.000
SUPPORT LEVEL : $4.300-$3.200
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