Thorchain is a project that has held my interest since seeing others talk about it on Leofinance. Thus, I have been looking for opportunities to buy its native token RUNE.
Price slumped hard in the last crypto sell falling well below $2 at one point. However, the $1.60 area has carved out a support level with a recent bounce and some prior consolidation action there back in early 2021.
RUNE Hit With Some Volume Too...
Looking at the daily chart above the is one thing that popped out at grabbing my attention.
That thing is VOLUME. If you look at the chart everytime price hit a support level in a time of increased volume it proved to be a bottom. Even if it was an intermediate bottom.
Seeing volume increases at tops and bottoms is not anything new, its actually pretty old school. The chart of RUNE is proving that pattern true.
It is making me wonder if I should have already bought in rather than waiting for even lower prices.
This may not be the bottom, but for RUNE the odds favor it be a bottom of some sort.