✴️ Thorchain Bullish, 200% & 300% Targets (Name Your Altcoin)Thorchain (RUNE), I have to admit looks pretty good.
This time we are looking at a long-term (weekly) timefreame.
A major bearish bias is pretty obvious on the left side of the chart, steep down until June 2022.
From June 2022 through June 2023 we have one final bearish wave but not as steep as in early 2022, this with decreasing volume with the exception of the Nov '22 through Feb '23 when a bullish wave took place, at this time we can see a volume increase.
I mention the volume because we can spot a dynamic of decreasing volume as prices are sideways or going down, while volume increases when prices are bullish/going up; telling us that the bulls have been preparing behind the scenes.
Fast forward to August 2023 and we are now in a clear bullish phase, with the current action being a flag/consolidation pattern.
As prices trade weekly above EMA50/21/10, we can expect additional growth and since this is a long-term chart, we can expect this growth long-term.
By growth I simply mean higher highs and higher lows.
👉 200% & 300% targets can be found mapped on the chart.
Wishing you a lovely Sunday.
Thanks a lot for your continued support.
Namaste.
