THORChain (RUNE): An outlook on the Higher Timeframe

17. Apr.

At RUNEUSDT , we are initially examining the monthly chart because we believe it reveals something very significant and promising. We are potentially in a major Wave 3, which could realistically target at least $34.70. This is a considerably high target, yet feasible for Rune given its performance relative to other cryptocurrencies—it hasn't risen as sharply, suggesting there might be substantial upward potential once it breaks out.
We have observed multiple fakeouts around this trendline but have never truly broken above it. This trendline, along with the demand zone highlighted on the monthly chart, will be crucial anchors for our analysis.

We do not expect to fall below this demand zone; it forms the basis of our swing or spot bag setup for Rune. The response to recent price dips has been encouragingly positive, indicating resilience. If we see a clear breakout above this trendline and the price successfully consolidates above it, we anticipate significant bullish momentum to follow.