RUNEUSD Gained Slightly After a Massive Sell-off

Any daily close above $5 confirms further bullishness. RUNEUSD has gained more than 45% in the past ten days.

ThorChain is a network that enables native asset settlement between Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash, and Litecoin. It's a cross-chain decentralized protocol designed for native swaps across different blockchains.

ThorChain is a decentralized cross-chain liquidity protocol that leverages the Tendermint consensus engine, Cosmos-SDK state machine, and GG20 Threshold Signature Scheme (TSS).

Thor nodes - Starting with 100 and can scale up to 250. Anyone can join the network with the required funds.

THORChain has a native token RUNE, which owners can use to participate in the network and to pay for the swap/gas fees for RUNE pairs.

RUNEUSD edges up after a strong sell-off.

Any daily close above $5 will confirm further bullishness.

RUNEUSD has risen more than 45% in the last ten days. The pair trades above the short-term (21 and 55 EMA) and below the long-term moving average on the 4-hour chart. It hit a high of $3.72 and is currently trading around $3.66.

The bullish invalidation can occur if the pair closes below $2.50. On the downside, the near-term support is at $3. Any close below targets $2.50/$2.

The pair's near-term resistance is around $3.85. Any break above confirms minor bullishness. A jump to $4/$5/$6 is possible.

It's a good idea to buy on dips around $3.25 with SL around $2.50 for TP of $10.

TokenPost | [email protected]