RUNE price chart shows a remarkable recovery from the $2 mark restarting the bull cycle and teasing a falling channel breakout rally to the $6 mark. Key technical points: The RUNE market value increased by 7.29% in the last 24 hours. The bull cycle struggles to surpass the falling channel. The 24-hour trading volume of Thorchain is $200 Million, indicating a hike of 102%. Past Performance of RUNE The falling channel pattern keeps the bearish tension high on RUNE prices accounting for a downfall of 80% in the last two months. The downtrend reaches the bottom of $2.15 due to the selling spree before seeing a bullish resurgence as the overall market recovers. The bullish reversal jumps 35% in the last four days to reach the resistance trendline and the $3.50 resistance zone. Source- Tradingview RUNE Technical Analysis The bullish reversal in RUNE price finds an increase in the number of buyers, evidenced by the trading volume growth. Therefore, the possibility of a bullish trend surpassing the resistance zone at $3.5 increases significantly. The Vortex indicator shows the VI lines on the verge of giving a bullish crossover which may shortly coincide with the resistance zone breakout. Moreover, a similar state is observed in the DMI indicator, increasing the chances of a bullish recovery in the upcoming hours. The MACD indicator shows a gradually increasing trend of fast and slow lines projecting a solid underlying bullishness. In...
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