THORChain (RUNE) Rebounds 18%: What's Next?

THORChain's RUNE token surged 17.15% in 24 hours, recovering from a 33.3% pullback, driven by:

1. Bitcoin's (BTC) new all-time high against the US Dollar ($75.4k).
2. Quick bullish reversal after breaching support at $4.5.
3. Liquidity-driven move, rather than high selling volume.

Key Levels:

- Support: $4.5 (breached but rebounded)
- Resistance: $5.8-$6.2 (potential liquidity pool)
- Current price: $4.76

Outlook:

- Consolidation likely below $6.
- Short liquidations building up before potential climb.
- Range formation between $4.5-$6.3.

Analysis:

- OBV (On Balance Volume) stuck within a range, indicating range-bound trading.
- Liquidation heatmap shows swept liquidity at $4.5.
- No clear liquidity pool to attract RUNE immediately.

Caution:

- Market structure still bearish after recent pullback.
- Volatility persists.

Investors should exercise caution and consider the risks before investing in THORChain (RUNE).