As of the latest daily chart reading, RUNE (THORChain) is showing a clear breakout pattern against USDT on Binance, capturing the attention of traders and technical analysts alike. The asset is trading at $1.747, marking a +2.34% increase in the last 24 hours, and is exhibiting strong bullish momentum supported by rising volume and technical indicators.
Technical Breakdown
Current Price: $1.747
24h High: $1.820
24h Low: $1.671
Bollinger Bands: Upper Band – $1.650, Mid Band – $1.377, Lower Band – $1.104
MACD: Bullish crossover confirmed with growing histogram
Moving Averages: Price is above the 5-day and 10-day MA, confirming bullish strength
Volume: Significant spike to over 29.7M USDT, confirming institutional interest
Price Action Analysis
RUNE has decisively broken through the upper range of the Bollinger Bands, a strong indication of potential trend continuation. The move is supported by rising trading volume, a critical signal of genuine buying interest rather than short-term speculation.
The price is holding above the short-term moving averages, with both the 5-day and 10-day MAs trending upward, suggesting strong near-term momentum. The MACD (Moving Average Convergence Divergence) indicator shows a fresh bullish crossover, which is often a precursor to sustained rallies in trending markets.
Trade Setup & Signal
Type: Long (Buy)
Entry Zone: $1.730 – $1.750
Target Levels:
🎯 T1: $1.82 (local resistance)
🎯 T2: $1.95 (psychological resistance)
🎯 T3: $2.10 (extended target based on Fibonacci projections)
Stop Loss: ❌ $1.63 (below recent consolidation)
Leverage (Optional): 3x–5x for moderate-risk traders
Confidence Level: Medium-High
Recommendations
1. Consider Partial Entry: Traders may consider scaling into a position between $1.730 and $1.750, ensuring better average pricing while reducing risk.
2. Monitor Resistance at $1.82: This level has acted as a short-term ceiling. A daily close above this point with volume would open the door to higher targets.
3. Use Trailing Stop: For those already in a position, employing a trailing stop can help lock in profits while allowing upside flexibility.
4. Volume Confirmation is Crucial: Continue watching volume indicators – a decline in volume on an upward move could signal exhaustion.
5. Beware of Overextension: The price is trading outside the upper Bollinger Band, so short-term pullbacks are possible before continuation.
Conclusion
RUNE/USDT appears to be in the early stages of a bullish breakout pattern. Supported by technical strength, growing volume, and momentum indicators, the pair is positioned for potential gains in the coming sessions. However, as with all trades, risk management remains essential. Stick to stop-loss levels, size positions appropriately, and remain disciplined.
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> Disclaimer: This article is for educational and informational purposes only. It does not constitute financial advice. Always do your own research and consult a financial advisor before investing.
