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Did RUNE Find a Bottom After Holding Support? by scaredycatguide

View this thread on: hive.blogpeakd.comecency.com
· @scaredycatguide ·
$73.15
Did RUNE Find a Bottom After Holding Support?
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...

![image.png](https://images.hive.blog/DQmRY8d2zQcnhSEUpacvSKAbPGQQLVawGjzRLYJikZZgXMG/image.png)

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.

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vote details (455)
@karinxxl ·
God I would love that. I am early rune buyer at like 0.40 or so, but during the year after selling and buying again at $9 this feels a big painful. But hey...we are here for the long run right, this is all (very discouraging, but heck) noise for the long run
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@mistakili ·
RE: Did RUNE Find a Bottom After Holding Support?
A lot of Runes movement is tied to the general market, the recent volume is likely from cosmos integration. You kno…1$ of every non native Asset is backed by 3$ in Rune. New support must be around 2.5$ as long as the rest of the market doesn’t dump further. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mistakili/re-scaredycatguide-4j9fbt)
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@scaredycatguide ·
RE: RE: Did RUNE Find a Bottom After Holding Support?
Good info!

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@typebox ·
$Rune (RUNE) experienced a significant rally after its own low but prices have primarily reversed to the golden pocket, making the case of a low-volume downward impulse somewhat more likely than a correction below the 50%. Can bulls hold on to the support, or are we due for further descents? is really a million dollar question!
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