Introduction

Hello fellow steemians! This is my third assignment for the week, and I'm happy to be a part of this fantastic competition. For this week's challenge, I'll be joining Team Investors, which is led by professor @pelon53. So let's get started.

• The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc

THORChain is a decentralized exchange which allow users to exchange their assets across a large number of networks. Users will be able to maintain a close eye on the assets they are exchanging until the transaction is complete, making this exchange even more safe. RUNE is the THORChain token. RUNE is the network's native token, which serves as a governance and utility token. In mid-June 2021, it reached historical highs of $20. THORChain began its journey in the year 2019, specifically in the month of July, with the purpose of gathering funds to complete its development through an IDO on the Binance Exchange. The THORChain network, however, did not become available to all users until 2021.

THORChain does not reveal information of its work team , according to them, they believe the more anonymous they are, the safer the project is, and there is a large deal of decentralization. THORChian's security uses the Tendermint consensus protocol which uses Byzantine Fault Tolerance (BFT) to make the network resistant to hacker attacks.

THORChain (RUNE)CREATOR

THORChain does not reveal information of its team , They want to leave it anonymous.

The THORChain (RUNE) token has been listed on numerous exchanges, including Binance , SushiSwap , KuCoin , Gate.io , FTX , Bybit , etc. The following is information about THORChain (RUNE) that was obtained from coinmarketcap.

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Price: $12.09

Rank: #41

Marketcap: $3,994,236,528

Volume: $401,933,981

Volume/Marketcap: 0.1

Circulating Supply: 330,688,061.33 RUNE

• Why am I optimistic on this token today

THORChain (RUNE) has been a good token from my own observation and today, I noticed RUNE executed a bullish pattern flawlessly, respecting its dynamic supports and resistances to a tee, which has aided me in determining appropriate market entry and exit points. In this study, the median and RSI indicators were used. Median Indicator is a trend-based indicator that can be used to forecast market direction and volatility. It's a thick median line that functions as a moving average and changes color depending on whether the market is bullish or bearish. In fact, the green band occurs when the median line crosses the same-length EMA, whereas the purple band appears when the median line crosses the same-length EMA.

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I also study market with using another time frame (15mins)

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• Analysis of the Token

I used both median and RSI Indicator as was taught in the academy, Median Indicator is a trend-based indicator that can be used to forecast market direction and volatility. It's a thick median line that functions as a moving average and changes color depending on whether the market is bullish or bearish. In fact, the green band occurs when the median line crosses the same-length EMA, whereas the purple band appears when the median line crosses the same-length EMA. I saw that the market has been in an uptrend using a 5min and 15min time frame and was about to start a downtrend in both timeframe.

I spotted the RSI indicator at the overbought zone which is always follow by a downtrend , and that the price has crossed resistance a few times and the median indicator was showing a spike in the price followed by a downtrend with confirmation from RSI indicator, I placed a sell trade with a 2:1 profit to loss margin and RSI indicator was about to start a downtrend So I entered a sell trade at 12.6725 and set my take profit at 12.3220 and my stop loss at 12.8990

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The image below shows my orders carried out on binance exchange. So I entered a sell trade at 12.6725 and set my take profit at 12.3220 and my stop loss at 12.8990

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After some time I discovered the market hit set my take profit at 12.3220 with profit of $0.70100000

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Trade Info

Parameters	info
Entry	12.6725
Take Profit	12.3220
Stop Loss	12.8990
Ratio	1:2
Profit Made	$0.70100000

• Your plan to keep it for a long time or when to sell it?

I really want to invest in RUNE, but don't have enough fund to buy and hold for the long term.I've used the RUNE in multiple transactions with the goal of increasing my capital and making a profit. If I see fresh advancements in the THORChain project and the RUNE token continues to grow in a healthy manner, I may leave it for another year, but only after assessing how this token has performed over a period of time.

• Do you recommend everyone to buy? Give reasons for recommending or not recommending

I would propose investin, but for short term, because it appears to me that the complementary security of our money cannot be guaranteed without knowing the THORChain team or founder.On the other hand, it is a relatively young initiative that has expanded significantly, but I believe it has not yet proven to be enough. Of course, you'll want to keep an eye on what new features are being added, as well as how your network evolves and the RUNE token's value grows.

Conclusion

In this assignment I was able to trade RUNA/USDT for the on binance future market and also analyze the RUNA token. I find the THORChain project intriguing and I believe I would recommend it to anyone looking to create a liquidity pool. Also, when it comes to carrying out operations, I've noticed that it performs admirably though it doesn't always do what we want.

Am Thankful professor Professor @pelon53 for this wonderful lecture and also time.

Cc:
@pelon53