Thorchain(RUNE)
The RUNE price maintained a consolidated trend for nearly a month. Further, it underwent a decent jump, on the very first day of March. Moreover, the price ignited a flip after trending within a notable bearish channel from the past couple of days. The price recorded a 35% jump since the early trading hours and woefully faced an 11% correction. However, in the short term, the asset appears to be primed for another leg up after a brief consolidation soon.
The RUNE price in the short-term experienced a notable plunge followed by a minor consolidation. Therefore, a possibility of a small pullback arises as the asset forms a small bearish flag pattern. And hence a correction towards the lower support close to $4.5 may be imminent. Later it may a kick-off above $5 which may further extend beyond $5.8 too. The RUNE price is around $4.92 with a jump of 3.10%, where the trading volume has jumped more than 123%.
OMG Network(OMG)
The OMG Network’s jump was due for a pretty long time as the price faced an immense descending trend for nearly a month. No doubt the asset attempted before to slice through the descending trend. But ended up shedding another 20% gains since the beginning of March. However, the asset receive a gigantic influx of buying volume that uplifted the price above the depleting trend line.
The OMG price in the early trading hours broke through the descending trend line and jumped more than 17%. Yet the asset after undergoing a huge upswing may get exhausted and retest the immediate support around $4.5. However, a quick bounce may get ignited at these levels which could compel the price to continue with the uptrend to reach out the strong support close to $5. Sustaining at these levels may validate a notable uptrend from the current levels around $4.5.
Synthetix (SNX)
The SNX price broke down from the strong support levels a fortnight ago and since then swung within a range-bound level. After multiple failed attempts to slice through the consolidation, the SNX price successfully ignited a gigantic uptrend since the previous trading day. Continuing the uptrend, the asset reached close to $5 in the early trading hours. Despite the current consolidation, the possibilities of asset resuming with another leg up prevail within the next 3 to 4 hours.
The SNX price recorded huge bullish candles n the very short term and the further consolidating formed a bullish flag pattern. This is among the extreme bullish indicator which usually results in a gigantic leg up towards the upper strong resistance levels. Therefore, if in case the asset continues to consolidate, then it may hit the lower levels of the flag at $4.4 and quickly rebound firmly to smash the crucial resistance zone just above $5. At the press time, the SNX price is around $4.59 with a jump of merely 0.76%.
Was this writing helpful?
Source: https://coinpedia.org/price-analysis/throchain-rune-omg-network-synthetix-snx-price-surge-high/