ThorChain (RUNE) and Avalanche (AVAX) price movements in the daily chart point to reignited bulls. AVAX/USDT may thaw back to $40, while RUNE/USDT is open to $17.

Avalanche (AVAX)

The Avalanche platform is more of an umbrella offering several DeFi-related services ranging from trading, issuing of financial assets, and more. Its native currency AVAX is the subject of this technical analysis.

Past Performance of AVAX

The AVAX/USD is oscillating within a $4 zone with support and resistance at $26 and $30, respectively.

Technically, bulls are in control with decent trading volumes, which rose 51 percent to $132 million on the last trading day.

Day-Ahead and What to Expect

From candlestick arrangement and AVAX/USDT technical analysis on the daily chart, buyers are in control.

AVAX is changing hands at $30, adding roughly eight percent across the board. It is up double digits versus BTC and USD on the last trading week. AVAX remains in an uptrend, rebounding after a three-bar bullish reversal pattern of Apr 24 to 26.

AVAX/USDT Technical Analysis

AVAX bulls are in control. After deep losses in late April, AVAX bulls are flowing back, rebounding from the 61.8 percent Fibonacci retracement—at around $23– of the Q1 2021 trade range. The immediate target for buyers is March highs of around $40.

ThorChain (RUNE)

In the age of interoperable trustless trading with impermanent loss-preventing measures, ThorChain is a leader. Its governance token is RUNE.

Past Performance of RUNE

The trading platform recently launched. RUNE is presently bound in a $2 zone with caps at $13 and $15, respectively.

The path of the least resistance remains northwards. On the last day, participation is within an acceptable range, rising 41 percent to $152 million.

Day-Ahead and What to Expect

RUNE is changing hands at $15, adding a ballpark eight percent versus BTC, ETH, and USD. Technically, the uptrend remains valid.

However, RUNE/USDT remains boxed in a tight $7 trade range with visible support and resistance at $10 and $17, respectively.

Provided RUNE is in this zone. Since the 20-day moving average remains as the primary loading zone as it has been, RUNE buyers have a chance.

RUNE/USDT Price Forecast

Participation tapered in the last few days without affecting the primary trend. As a result, RUNE bulls may opt to load the dips with immediate targets at $17 in confirming the reversal from late April. A surge past $17 opens up RUNE/USDT to $22—the 3.618 Fibonacci extension level of the Q1 2021.