$RUNE /USDT Analysis – Signs of Reversal After Sharp Decline
THORChain (RUNE) is currently trading at $1.263, reflecting a modest +1.04% gain in the last 24 hours. This comes after a steep drop from a 24h high of $1.436 to a 24h low of $1.018, with the price finding temporary support at $0.955. The downtrend started after failing to sustain above $2.416, leading to a series of lower highs before stabilizing.
Key Technical Levels:
Immediate Resistance: $1.525 – A breakout above this could trigger stronger bullish momentum.
Major Resistance: $1.846 – Reclaiming this level would indicate a trend reversal.
Immediate Support: $1.018 – Holding this level is crucial for maintaining the current recovery.
Major Support: $0.955 – A breakdown below this could lead to further declines towards $0.881.
Market Outlook:
Bullish Scenario: If RUNE maintains above $1.263 and breaks the $1.525 resistance, we could see a move towards $1.846. Sustained buying pressure could push it back to retest $2.168.
Bearish Scenario: Failure to hold above $1.018 could result in a retest of the $0.955 support. A break below this may accelerate the downtrend.
Volume Analysis:
The 24h volume of 288.75M RUNE indicates strong market activity, with signs of accumulation at lower levels suggesting a possible reversal. Watch for a spike in volume to confirm breakout scenarios.
