RUNEUSD Testing the 1W MA100. This is how it will reach 5.0000

THORChain is rising very aggressively, the same kind it did in early August, naturally turning overbought on the 1D timeframe (RSI = 78.104, MACD = 0.209, ADX = 49.344). In doing so, it reached the 1W MA100 for the first time since May 9th 2022, which is the major Resistance of the new Bull Cycle.

The pattern that seems to be standing out is a Channel Up and the current rise is the new bullish leg to HH. Along those lines, we expect a rejection near the +115% mark and pull back to the 0.382 Fibonacci level, where we will place our new buy. Structurally, the target will again be a +115% rise (TP = 5.000).

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