Market & Ticker: THORCHAIN– RUNE/USDT
Date: 30/10/2023
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
RUNE recently reached the 2,50 target area corresponding to the initial tactical maximum target defined in Sept 2023 after reaching 1,85 prvious target (August 2023). At current level the bullish trend keeps upside potential towards 3,40/3,80 and 7.00 maximum as long as 2.00 tactical support remains valid in daily close.
Technical Key Elements:
- Auto similar move potential shows target at 3,40
- RSI indicator is above 50%
- The Moving average are support at 1,65 & 2.00
- Fibonacci key support is adjusted at 2.00 while the Elliot wave shows upside potential towards 3,80 and 7.00
Trade Idea conclusion: Buy - Conviction:
 | | | High |
Target 2: 7,00
Target 1: 3,80
Buy: add in dip area 2,20/2,30
Stop: 2,00 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
