RUNEUSD Is preparing a major bullish move

THORChain (RUNEUSD) has been trading within a Channel Down pattern since the June 13 2022 (weekly) low inside a longer-term Bearish Megaphone since the May 17 (weekly) High. The 1W LMACD is close to forming a Bullish Cross. If completed, the short-term target will be the 1D MA200 (red trend-line). A break above the 1W MA50 will further be a bullish break-out signal, targeting the top (Lower Highs trend-line) of the Bearish Megaphone.

Tradingview link:

https://www.tradingview.com/chart/RUNEUSD/sAQMaUBc-RUNEUSD-Is-preparing-a-major-bullish-move