Thorchain (RUNEUSDT) is no longer bearish, the bullish bias is now fully confirmed and this statement is supported by many chart signals. Let's look at those.
First, there is a strong and classic reversal bottom formation, the Adam & Eve pattern.
This pattern was completed when RUNEUSDT moved above its base (black line on the chart).
This pattern on its own is a strong reversal signal but that is not all, today RUNEUSDT is moving above EMA89 and recently conquered EMA55 daily for the first time as resistance. This is happening with three green daily candles and the strongest bullish momentum since March 2024.
Current action is indicative of so much more to come, but here we will focus on something basic and simple, the "baseline."
This is a very easy target, RUNEUSDT is set to test the December 2024 resistance zone, the price zone from where it took the plunge. Obviously, this resistance will break after some challenge easy, but this is the first and main level that will be tested on this bullish wave. That's a very easy 280% profits target in the coming months, very easy with a strategy based on buy and hold. You can't go wrong. You will be happy with the results.
Thorchain will grow, Bitcoin will grow, the Altcoins will continue growing and what you are witnessing now, is only the start.
Thanks a lot for your continued support.
Namaste.
