Despite the RUNE prices trending lower under the influence of a supply-rich resistance trendline, bulls plan a sneak attack that may give a 30% price jump. The RUNE coin price shows another bullish attempt to crossover the resistance trendline in action. However, the bulls struggle to overcome the sellers-dominated trendline as the uptrend faces intense selling pressure. Will the bullish attempt prove successful in changing the trend direction? Key technical points: The coin price sustains above the $100 mark. The trend faces resistance from the 50-day EMA. The 24-hour trading volume in the Thorchain token is $248 Million, indicating a 75% rise. Past Performance of RUNE With the failure to sustain above the $6-$6.5 horizontal zone, the RUNE coin price depreciates by 40% within a week. The free fall finds support near the $3.5 mark resulting in a short-term consolidation. On 5th February, the bulls break above the range but fail to rise above the resistance trendline resulting in downfall to the $3.5 mark. However, the bulls regain momentum and challenge the trendline once again. Currently, the RUNE coin price trades at $4.54, with a price jump of 4.23% in the last 24 hours as the uptrend rises again from $3.5. Therefore, the traders can shortly find the price rise above the supply-rich trendline. Source-Tradingview RUNE Technical Analysis The RUNE coin price can show a more than 25% post-breakout bullish rally and challenge th...
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