RUNEUSD The 1D Golden Cross is the last buy opportunity to $38.THORChain (RUNEUSD) is about to form a Golden Cross on the 1D time-frame. It will be the first since September 06 2023, which at the time was incredibly bullish for the crypto.
As you can see basically, the pattern since the March 13 2024 High is quite similar to the price action from February 08 2023 to the time of the first 1D Golden Cross. Both sequences started declining under Lower Highs trend-lines and once broken, the 1D RSI turned overbought while the price entered a consolidation phase inside a Triangle pattern.
On the September 06 2023 Golden Cross, that Triangle broke to the upside just a week later and 6 months later it completed a +1368.50% rise from the bottom, reaching almost $11.500.
As a result, we expect a similar bullish break-out to take place and the upcoming 1D Golden Cross could perhaps be the last opportunity to buy. If the price follows another +1368.50% rise pattern, then we may very will see RUNE at $38.000 at the end of it.
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Runeusdsignals
RUNEUSD Bull Flag completed. Expect x10 rise at least!THORChain (RUNEUSD) is on its 1W MA50 (blue trend-line) for the 3rd straight week, after holding and rebounding on the 1W MA100 (green trend-line). In our view, this has completed the long-term Bull Flag (Channel Down) pattern that emerged after a +1428% rise from the June 2023 market bottom.
If we take a look at the previous Bull Cycle, a +1400 rise has been a norm during that run, in fact the rally started after a +1467% rise, which got doubled on its on the subsequent two rallies to the market top.
As a result, we expect at least another +1428% rise, thus putting our Target at a x10 state at $45.00.
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RUNEUSD Megaphone rebound aiming higher.THORChain (RUNEUSD) is testing the 1D MA50 (blue trend-line) as short-term Resistance after a clear-cut bounce at the bottom of the Megaphone pattern and just above the 1W MA50 (red trend-line). This mobilizes the 1W MA levels to come into focus and justifies a short-term (at least) buy towards 2.5000 (top of Megaphone and expected contact with the 1W MA100 (yellow trend-line)).
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RUNEUSD This Bull Flag can take it to 3.1500 by end of the yearWe last looked into THORChain (RUNEUSD) 3 weeks ago (see chart below) when we called for a pause of the enormous uptrend within the Resistance Zone:
As expected, the price got rejected on the 1.9750 Resistance and pulled-back to the 0.382 Fibonacci retracement level. Needless to say that after breaking above the Falling Wedge pattern, as well as the 1W MA50 (red trend-line), the cryptocurrency has entered a new long-term bullish trend. The very same 1W MA50 has turned into a Support and held twice already (August 18, 16), while the 1D MA50 (blue trend-line) is crossing today above the 1D MA200 (orange trend-line), forming a Golden Cross.
Now the last 1D Golden Cross (February 17) had a bearish outcome but at the time not only was the price below the 1W MA50 but also the 1D MACD failed to form a Bullish Cross. As a result, it the 1D MACD forms the Bullish Cross (which is in course of completing in 2 days), we expect the current consolidation to be just a Bull Flag pattern that will break this time above 1.9750 (Resistance 1) that has been holding since February 02. Our long-term target is 3.1500 (Resistance 2) on the long-term, which is the August 11 2022 High.
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RUNEUSD Major bullish break-out above the 1 year pattern.THORChain (RUNEUSD) broke above the top (Lower Highs trend-line) of the 1 year Falling Wedge pattern (since the August 11 2022). This is a major bullish break-out, considering that the price also broke above not just the 1D MA200 (orange trend-line) but also the 1W MA50 (red trend-line) for the first time since April 26 2022.
As long as the 1.7250 - 1.9750 Resistance Zone holds, we expect a better buy opportunity back on the 0.382 Fibonacci retracement level assuming the 1D MA50 (blue trend-line) supports. The long-term target is 3.15000 (Resistance 3).
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RUNEUSD Is preparing a major bullish moveTHORChain (RUNEUSD) has been trading within a Channel Down pattern since the June 13 2022 (weekly) low inside a longer-term Bearish Megaphone since the May 17 (weekly) High. The 1W LMACD is close to forming a Bullish Cross. If completed, the short-term target will be the 1D MA200 (red trend-line). A break above the 1W MA50 will further be a bullish break-out signal, targeting the top (Lower Highs trend-line) of the Bearish Megaphone.
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RUNEUSD Staging a medium-term buyThorchain (RUNEUSD) is on a very strong two-day bullish streak with the RSI breaking above its June 06 high. Last time we posted a trade on RUNE, it was the 1D MA50 (blue trend-line) that helped us identify a confirmed buy:
The token has been trading within a Channel Down pattern ever since its May 18 2021 market top. As you see, on both Lower Lows formations, the buy confirmation came when the price broke above the 1D MA50. A Bull Flag (Channel Down) followed and then a Lower Highs was made. As a result, and with the similarities on all of RSI sequence evident, this rise is most likely the set-up for that 1D MA50 breaks that could lead to a Lower High around the 4.5 Fib extension (8.000).
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RUNEUSD broke above the 1D MA50. Buy signal.RUNE had a great 1D candle yesterday, the strongest since February 2021. As it broke above the 1D MA50 (blue trend-line), a buy signal emerged, as this has been its Resistance since December 01 2021.
Last time the 1D MA50 broke following such a long-term correction, was on July 30 2021. The crossing of the MA50 gave an instant buy signal, with a Bull Flag later forming just after the price hit the 0.5 Fibonacci retracement level and the 1D MA200 (orange trend-line). The eventual High of that bullish sequence was made above the 0.786 Fibonacci retracement level, forming eventually the All Time Highs Resistance. Based on the above, we can expect at least a $12.00 High in Q2 2022.
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