THORChain (RUNE/USDT): Strong bullish potential 

Brian Leclere - 29 March 2022 - APP RUNE

Context :
RUNE/USDT is evolving within a clear picture since the launch of the Token in october 2020. We can see a clear upside trend in 5th up wave (impulsion) before a pause in a trading range (yellow) in 3 abc waves (corrective)…. It is a real ”school case” and the logic is now to draw a second upside trend (auto-similar move) with a test of the upside limit of the range before. The recent bounce above the lower limit of the range reinforce the idea of a direct rise with an RSI indicator now in positive area with potential and the EMA activating a golden cross and acting as support.

Key Elements ( Daily Chart basis):

– Auto-similar potential at 145
– Upper limit of the range potential at 17/25
– Key Fibonacci level at 5.00 + EMA support in the same area
– RSI is above 50%

Tactical view on 3 to 6 weeks:

As long as 5 remains a key tactical support, the market offer opportunity to buy in dips and accumulate bullish position in order to play a freelunch target at 17 even 25. On a longer run (multi-month) the market is expected to break above 25 to rise towards auto-similar potential at 145

(Price are displayed in USDT) 

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