#Thorchain ($RUNE) has been entrenched in a bearish trend for over a year, hitting lows near $0.8.
March began on a positive note for RUNE, with a remarkable surge of over 100% witnessed in the first half of the month.
However, despite reaching a high of $11.460, bullish momentum faltered, leading to a significant correction of 54% in #Thorchain valuation.
Currently, $RUNE price is contained within a rising, expanding channel. Yet, recent bearish pressure has forced the price below key support levels.
On the daily chart, recent data reveals a 10.50% increase in RUNE's price, marking a return within established trading patterns.
If the market exhibit a reversal to a bullish trend, RUNE's price could regain momentum, setting its sights on testing upper levels near $8.575 within this month.
According to Coin Gabbar analysis, Conversely, if bearish forces persist, the price may experience further declines, potentially testing critical support at $3.940 by the end of the month
KEY LEVELS :
RESISTANCE LEVEL : $6.000-$7.000
SUPPORT LEVEL : $4.300-$3.200
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