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Biggest Movers: RUNE, ZIL Rebound Following Recent Losses, Trading Nearly 20% Higher

News Feed - 2022-04-14 11:04:46

Biggest Movers: RUNE, ZIL Rebound Following Recent Losses, Trading Nearly 20% Higher


ZIL was up by more than 20% in Thursday’s session, as prices rebounded following a string of recent drops. RUNE was also up by over 15% today, as it hit its highest point so far this week. Overall, the global crypto market cap is up 2.08% as of writing. Zilliqa (ZIL)


Following almost two weeks of declines, ZIL finally stopped the bleeding, rallying by over 20% during today’s session.


ZIL/USD rose to an intraday high of $0.1263 earlier in Thursday’s session, as price continues to move away from its recent support point.


This floor was at the $0.1033 level, which has historically seen significant bullish moves begin from there, and today’s rally follows this trend. ZIL/USD – Daily Chart


Recent momentum in ZIL has now taken prices to what seems to be a short-term ceiling of $0.1245, with some expecting an imminent breakout.


However, there appears to be an obstacle in place which could potentially prevent this from happening, with the 14-day RSI also trading at resistance.


Looking at the chart, the relative strength index is currently tracking at 57.06, which is slightly below the ceiling of 57.70.


Should this point be broken, we could be looking at ZIL rallying back towards $0.1400.


THORChain (RUNE)


RUNE also rose on Thursday, moving past XTZ to cement itself as the world’s 44th-largest cryptocurrency.


Following a bottom of $7.42 during Wednesday’s session, RUNE/USD climbed to an intraday high of $9.35 earlier today.


The move came as RUNE moved away from the support level of $8.15, following what appears to be a false breakout. RUNE/USD – Daily Chart


Since today’s surge which saw prices come close to a ceiling of $9.45, there has been some profit taking from traders who look to avoid any price uncertainty heading into the long weekend.


As such, we now have a doji pattern being formed in today’s candlestick, which encapsulates this uncertainty, with bears selling while bulls are buying simultaneously.


Currently, with the RSI still marginally below its ceiling of 50, if it could reach this level, the narrative could change, with more bulls being buoyed to re-enter the market, pressuring bears to give way in the process. Tags in this story RUNE, Technical Analysis, ZIL


Could we see RUNE hit $10 before the end of this week? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Consolidates Heading Into Easter Weekend MARKET UPDATES | 9 hours ago Biggest Movers: WAVES Falls to 1-Month Low, BCH Over 10% Higher on Wednesday MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitcoin, Ethereum Technical Analysis: BTC Consolidates Heading Into Easter Weekend Next articleBitcoin Mining Difficulty Drops for the Third Time in 2022, Just Over 100K Blocks to Go Until the Halving Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItKenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC


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