Analytics

Perpetual Protocol (PERP) and ThorChain (RUNE) Technical Analysis: Back to All-Time Highs?

    Perpetual Protocol and ThorChain prices are divergent. While PERP may reclaim $23, RUNE is slippery above $8, pressured by last week’s sellers.

    Perpetual Protocol (PERP)

    The Perpetual Protocol platform allows for trustless trading using PERP as the main currency.

    Past Performance of PERP

    The Perpetual Protocol token is one of the top-performing digital assets.

    As per the PERP technical analysis in the daily chart, the coin is rebounding after last week’s losses.

    Specifically, the rejection of PERP crypto lower lows indicates strength–a net positive for traders angling for a moon swing to new all-time highs.

    Day-Ahead and What to Expect

    Overall, PERP token buyers are in the driving seat.

    The confirmation of the double-bar bullish reversal pattern of September 12 and 13 from H1 2021 highs of around $14 reinforces the bullish sentiment.

    Accordingly, every dip may offer entries for aggressive Perpetual Protocol token bulls targeting a retest of September 2021 highs of around $23.

    Perpetual Protocol Technical Analysis

    The Perpetual Protocol coin is bullish, reading from candlestick arrangement in the daily chart.

    Aforementioned, the retest of H1 2021 highs of $14 and the formation of the double bar bullish reversal pattern may see PERP float back to $23 in continuation of the August 2021 bull trend.

    However, an unexpected contraction that may force PERP token below $14 invalidates the uptrend.

    ThorChain (RUNE)

    The cross-chain protocol, ThorChain, offers various DeFi solutions using RUNE currency.

    Past Performance of RUNE

    Despite the optimism, ThorChain is mixed and relatively weaker.

    At the time of writing, RUNE crypto is up eight percent.

    However, there are hints of weakness since RUNE is consolidating and still within a bear breakout pattern.

    Day-Ahead and What to Expect

    Technically, sellers are in the driving seat unless there is a sharp rebound of RUNE token prices above $13.

    If RUNE coin bulls don’t flow back to prop prices, there is a risk of sell continuation of last week, possibly leading to a contraction towards $5 in the medium term.

    ThorChain Technical Analysis

    The RUNE crypto is weak and may cave in under the weight of sellers regardless of the sideways movement of prices.

    Presently, the 20-day moving average has a negative gradient in a bear breakout pattern, favoring sellers.

    Therefore, for the uptrend to be valid, RUNE coin prices must float above late week’s lows above $8.

    Further gains above $14 open RUNE to a wave of demand, propelling it back to $20 in line with August 2021 gains.

       

    Source


    Show More

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Close

    Become a Millionaire by Trading Crypto!