Thorchain Shows A Glimpse Of Hope, Are The Green Days Near?

RUNE price could be ready to break out from the downtrend as price gears up for a short-term recovery creating more bullish sentiment. RUNE looks strong on the low timeframe. The price of RUNE attempts to break and hold above 8 and 20 EMA on the daily timeframe. Thorchain (RUNE) has shown little or no recovery sign in recent weeks, but that could change as the price gears up for a rally against tether (USDT). Previous weeks for the crypto space have been slow as most altcoins, and major cryptocurrencies like Bitcoin (BTC) continued to move in a range. The month looks promising, with altcoins, including Thorchain (RUNE), bouncing off from their low with high hopes of a rally with the current shift in trend. (Data from Binance) Related Reading: Maker (MKR) Continues Its Positive Moves, Neglecting Weekly Market Trend Crypto Market Outlook For most crypto projects as altcoins, including RUNE, the new month has been more of a relief. The price of Bitcoin has led the market, rising from a low of $18,800 to $20,100. With the market looking more promising for crypto assets, we may see more cryptocurrency recovery, as the previous month prevented major altcoins from rallying. Thorchain (RUNE) Price Analysis On The Weekly Chart The price of RUNE in recent weeks did not show the strength as seen in other altcoins like Cosmos as the price continued to decline to its weekly low of $1.5. After rallying from a low of $3 to a high of $12, the...