Market & Ticker: THORCHAIN– RUNE/USDT
Date: 16/02/2023
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
RUNE presents a direct bullish configuration after having realized a pause between December 2023 and January 2024. We adjust the tatctical key support at 4,22 for a direct recovery towards 6,40 and 9,80
Technical Key Elements:
- Bullish exit from consolidation
- RSI indicator is positive – No Divergence
- The Moving average are support at 4.90
- Fibonacci key support is adjusted at 4.22 (Prior 3,10 in November 2023) while the Elliot wave shows upside potential towards 6.40 and 9,80
Trade Idea conclusion: Buy - Conviction: High
• Target 2: 9,80
• Target 1: 6,40
• Buy: add in dip area 5.80
• Stop: 4.22 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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