THORChain (RUNE/USDT) : Strong bullish potential THORChain (RUNE/USDT) : Strong bullish potential
Context :
RUNE/USDT is evolving within a clear picture since the launch of the Token in october 2020. We can see a clear upside trend in 5th up wave (impulsion) before a pause in a trading range (yellow) in 3 abc waves (corrective).... It is a real ''school case'' and the logic is now to draw a second upside trend (auto-similar move) with a test of the upside limit of the range before. The recent bounce above the lower limit of the range reinforce the idea of a direct rise with an RSI indicator now in positive area with potential and the EMA activating a golden cross and acting as support.
Key Elements (Daily Chart basis):
- Auto-similar potential at 145
- Upper limit of the range potential at 17/25
- Key Fibonacci level at 5.00 + EMA support in the same area
- RSI is above 50%
Tactical view on 3 to 6 weeks:
As long as 5 remains a key tactical support, the market offer opportunity to buy in dips and accumulate bullish position in order to play a freelunch target at 17 even 25. On a longer run (multi-month) the market is expected to break above 25 to rise towards auto-similar potential at 145
Enjoy my Friends !
