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Weekly forecast THORChain technical chart
Symbol RUNEUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.850 to 1.435). 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 (1.850)
  • Ending of entry zone (1.435)

DateJuly 25, 2022 - 12:11
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.435, beginning of uptrend is expected.
  • We make sure when the resistance at 3.500 breaks.
  • If the support at 1.435 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 2.467 on 2022-05-12 and the trough at 1.433 on 2022-06-18, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 3.040 on 07/21/2022, so more losses to support(s) 1.850 and minimum to Major Support (1.435) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 2.530
  2. 3.050
  3. 3.500
  4. 5.000
  5. 6.060
  6. 7.775
  7. 9.890
  8. 11.700
  9. 13.205
  10. 17.270
  11. 21.300
Click on the level to view price action history.

Symbol Released Current Forecast
THORChain (RUNEUSD) Fri, 22 Mar 2024
THORChain (RUNEUSD) Mon, 18 Mar 2024
THORChain (RUNEUSD) Sun, 10 Mar 2024
THORChain (RUNEUSD) Mon, 4 Mar 2024
THORChain (RUNEUSD) Sun, 25 Feb 2024