Lokesh Gupta
09-05-2024
#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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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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