"Monero (XMR) Price May Surprise Bears Following THORChain Integration"
Market Resilience: Despite heavy short interest and negative funding rates, Monero (XMR) has shown price resilience, climbing from around $305 to over $312, indicating potential for a market surprise.
THORChain Integration: The upcoming integration with THORChain is expected to enhance Monero's usability and liquidity, allowing direct trades with major tokens like Bitcoin and Ethereum, which could significantly boost its market presence.
Technical Analysis: Monero's price is holding above a long-term ascending trendline, with resistance levels between $380 and $400. A breakout above these levels could signal a major upward shift, potentially reaching prices last seen in 2021.
Contrarian Market Sentiment: The current market sentiment is heavily short, which historically sets the stage for potential price squeezes. If momentum builds, Monero could target the $350–$360 range before aiming for $400, making it a candidate for a significant contrarian move in Q4.
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Technical Analysis for RUNE
Technical Sentiment Analysis for THORChain (RUNE) As of , THORChain (RUNE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for RUNE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, RUNE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
THORChain (RUNE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.185 | 0.268 | 0.351 | 0.434 | 0.517 | 0.6 | 0.683 |
| Fibonacci | 0.268 | 0.331 | 0.37 | 0.434 | 0.497 | 0.536 | 0.6 |
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