RUNE Technical Analysis: Wild Buying Spree Breaks $12 Mark

RUNE coin prices experience a boom in buying pressure as the uptrend breaks above $12. Will the buyers sustain pressure for the $13 breakout? Key technical points: RUNE prices break above the $12 mark. Next, the 50 and 100-day EMA gives a bullish crossover. Finally, the 24-hour trading volume of Thorchain is $470 Billion, marking a 65% rise. Past Performance of RUNE RUNE coin prices show a solid uptrend as buying pressure increases, evidenced by the bullish engulfing candlesticks in the daily chart. The rally marks a price jump of 250% last month, resulting in the breakout of the $12 mark. The rally continues after the recent retest of the $10 breakout and shows a follow-through candle in the making with a rise of 3.22%. Source-Tradingview RUNE Technical Analysis RUNE prices showcase a rounding bottom pattern in the daily chart, with the neckline at the $13 mark. The bullish pattern breakout could result in a price jump to the previous swing high of $16, accounting for a 25% rise. The crucial daily EMAs (50,100 and 200) reinstate an upside trend and are rising to regain the positive alignment. The 50-day EMA surpasses the other two EMAs bringing bullish crossover. Hence, with the bullish crossover of 100 and 200-day EMA, the bullish alignment will be complete and provide solid support to any upcoming price falls. RSI Indicator: The RSI slope creates higher highs in the overbought territory with frequent dips to the 70% border....