RUNE Technical Analysis: Should You Consider Buying The Mainnet Launch Fueled Uptrend?

RUNE coin price shows a phenomenal surge of more than 50% within 72 hours, reflecting a hoard of new buyers lining up and increasing the demand. Key technical points: The RUNE coin prices break above $5 The RSI slope is on the verge of entering the overbought zone The 24-hour trading volume in the Thorchain token is $454 Million, indicating a 571% rise. Past Performance of RUNE RUNE coin price puts an end to the short-term downtrend, breaks above the 50-day EMA close to $5, and challenges the 100-day EMA at $6. The rally comes after the prices stabilize at a $3.5 support level and allow the buyers to step in. The rally comes before the long-awaited launch of the mainnet and the integration with Terra. The integration comes with a BANG! to support all the Cosmos-based projects. Source-Tradingview RUNE Technical Analysis The RUNE coin price action shows a power struggle at $6, hinting at a halt in the news-based rally. However, the increased buying pressure evident by the jump in trading volume marks the possibility of an uptrend above $6. The rally breaks above 50-day EMA and shows a reversal in the trend, but the rally struggles to approach the 200-day EMA as the 100-day EMA challenges the bullish growth. However, the breakout of 100-day EMA seems inevitable, which will increase the chances of bullish crossovers. The MACD indicator shows the merged fast and slow lines diverging to get a bullish alignment as the fast line creep...