\nTHORChain Price Prediction: The RUNE Price breakout from its long sideways trajectory indicates an early sign of an upcoming bullish trend.\t\t\t\t<\/p>\n
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Published 1 min ago <\/p>\n
THORChain Price Prediction: Last week, the cryptocurrency market witnessed heightened volatility, with major coins stalling due to overhead supply pressures. Bucking this trend, the RUNE price showcased a significant recovery<\/a>, underpinned by escalating trading volumes. Amid this rally the buyers broke free from a year-long period of sideways action, suggesting early indications of a trend reversal.<\/span><\/p>\n <\/p>\n Also Read: Why Is Bitcoin Price Rising Suddenly, Will It Continue to Rise?<\/a><\/p>\n Over the past two weeks, the THORChain coin price<\/a> has ascended steadily, leaping from a psychological support level of $1.5 to its current trading price of $2.9. This substantial 94.8% rally is bolstered by growing trading volume, highlighting strong buyer conviction to push the coin to higher heights.\u00a0<\/span><\/p>\n On October 26th, the rising price gave a decisive breakout from the resistance trendline of an expanding channel pattern that had been constraining its price for over a year. This pivotal moment signals the end of a long accumulation phase and serves as an early sign of a trend reversal.\u00a0<\/span><\/p>\n<\/blockquote>\n With an intraday gain of 5.75% and a suitable surge in trading volume, the RUNE price appears on track for another 8.6% surge before encountering its next major resistance level at $3.15. Should the bullish momentum persist, the buyers could extend the recovery trend to $3.8 and possibly the $5.22 marks<\/span><\/p>\n <\/p>\n Despite the strong bullish undercurrents, it\u2019s essential to recognize that such meteoric ascents often necessitate minor pullbacks for a more sustainable uptrend. Historical analysis of Rune Coin reveals three corrections during its recent four-month rally, each staying above the 50% or 61.8% Fibonacci retracement levels<\/a>. Therefore, investors may continue to maintain a bullish outlook unless the price dips below the 50% retracement level, currently situated at $1.89.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nWhy is RUNE Price Rising?<\/b><\/h2>\n
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Is a Correction Underway?<\/strong><\/h2>\n
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