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Weekly forecast THORChain technical chart
Symbol RUNEUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (3.37 to 3.00). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (3.37)
    • Support on 01/31/2021
    • Support on 02/01/2021
    • Support on 02/06/2021
    • Support on 02/07/2021
    • Support on 02/15/2021
    • Support on 02/23/2021
    • Support on 07/20/2021
    • Support on 07/21/2021
    • Support on 07/22/2021
  • Ending of entry zone (3.00)
    • Support on 02/07/2021
    • Support on 02/23/2021
    • Trough on 07/20/2021
    • Support on 07/20/2021
DateJuly 23, 2021 - 13:28
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 3.000, beginning of uptrend is expected.
  • We make sure when the resistance at 6.795 breaks.
  • If the support at 3.000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 3.00 on 07/20/2021, so more gains to resistance(s) 4.55, 5.53 and maximum to Major Resistance (6.80) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 38.

Take Profits:

  1. 4.55
  2. 5.53
  3. 6.80
  4. 10.00
  5. 14.28
  6. 16.63
  7. 21.29
Click on the level to view price action history.
Symbol Released Current Forecast
THORChain (RUNEUSD) Tue, 16 Apr 2024
THORChain (RUNEUSD) Sat, 6 Apr 2024
THORChain (RUNEUSD) Fri, 22 Mar 2024
THORChain (RUNEUSD) Mon, 18 Mar 2024
THORChain (RUNEUSD) Sun, 10 Mar 2024
History
Daily-Trading-Opportunities on RUNEUSD.