THORChain tests $0.548 resistance as immediate support holds after recent rally
THORChain (RUNE) is trading at $0.536, up 6.99% on the day. The asset is positioned above its key moving averages across both short- and long-term timeframes.
0.671
0.7250
Highlights
- RUNE/USD is in a bullish trend across multiple timeframes, with price trading above major moving averages.
- Momentum indicators confirm strong buyer control, but overbought signals indicate potential for a near-term pullback.
- RUNE/USD is expected to consolidate between $0.514 and $0.548 in the next two to three days, with further upside likely unless support breaks.
Bullish drive faces overbought risks as key supports hold
On the technical front, RUNE/USD shows notable strength above its MA-20 ($0.5128) and MA-50 ($0.5023) on the hourly chart, and is also holding above the daily MA-200 ($0.4398). The Ichimoku Kijun at $0.5175 is providing immediate support. Momentum indicators, including MACD and ADX, signal ongoing bullish bias. However, RSI, Stoch RSI, and CCI are in overbought territory, highlighting the possibility for a near-term pullback even as Bull/Bear Power and the Awesome Oscillator confirm dominant buyer pressure.
Range-bound trade anticipated amid breakout and breakdown risks
In the short term, RUNE is expected to consolidate within a volatility band between $0.514 and $0.548 over the next two to three sessions. The baseline scenario anticipates range-bound movement, while a decisive break above resistance would open the door for further gains. Conversely, a drop below immediate support may lead to a shift toward a bearish setup for the near future.
Earlier, analysts noted that THORChain had shifted to a bearish technical setup with downside risks dominant. The latest action marks a notable reversal in momentum, and traders should monitor for either a breakout above current resistance or signs of a momentum fade if overbought signals trigger a short-term pullback.
Latest THORChain News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
