The RUNE Technical Analysis signals a buying opportunity despite the bearish Monday, as the RSI highlights a bullish divergence. The RUNE price action displays a consolidation range forming between the $1.78-1.5 mark for more than a month. Currently, the prices rest at the bottom support, but the bullish divergence in the RSI indicator promises a reversal possibility. So, should you consider buying at a lower level against the market trend? Key Points: The Thorchain price action shows a bear cycle gaining momentum within the consolation range. The price dump challenges the bullish dominance at $1.5. The intraday trading volume in Thorchain is $45.67 million. Source – TradingView RUNE Technical Analysis The RUNE price action displays a remarkable downtrend under the influence of a resistance trendline resulting in a drop to $1.5. However, the bullish dominance at the psychological mark avoided a further decline in Throchain’s market value leading to a consolidation range. The consolation phase ranges between $1.5 and the overhead resistance of $1.78 and has kept the price trend trapped for a month. However, the recent increase in seeming pressure reflects an increase in undermining bearish sentiments. Currently, the price action displays a Doji candle forming at $1.5, avoiding a bearish breakout. However, an increase in selling pressure will drop the Thorchain market price under the psychological mark of $1.50. As per the Fibon...
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