{"id":559104,"date":"2023-11-04T08:05:12","date_gmt":"2023-11-04T08:05:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=559104"},"modified":"2023-11-04T08:07:33","modified_gmt":"2023-11-04T08:07:33","slug":"rune-solid-100-rally-hits-barrier-thorchain-price-nears-key-resistance","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/rune-solid-100-rally-hits-barrier-thorchain-price-nears-key-resistance\/","title":{"rendered":"RUNE Solid 100% Rally Hits Barrier: THORChain Price Nears Key Resistance"},"content":{"rendered":"
THORChain’s price has been up by over 100% since the last week of October, hitting levels not seen since May 2022. This is an amazing increment in price. But caution is advised since RUNE, an altcoin, seems overbought, possibly signaling a 20% drop in the near future.<\/p>\n
At the time of writing, RUNE was trading at $3.42, climbing over 15% in the last 24 hours, and registering an impressive 37% rally<\/a> in the last seven days, figures by CoinMarketCap shows.<\/p>\n If RUNE closes above the psychological $3.500 mark, it could negate the present downturn and cause the bearish attitude to change. The significance of RUNE closing above the critical $3.500 mark lies in its potential to reverse the prevailing bearish trend and trigger a shift in market sentiment.<\/p>\n Achieving this milestone could signify a break in the current downtrend, potentially instigating a more positive outlook among investors and traders.<\/p>\n THORChain<\/a> underwent a notable phase of consolidation, a period marked by relatively stable prices and limited fluctuations. Following this consolidation, the market witnessed a substantial surge, propelling THORChain’s price upwards by over 40%.<\/p>\n However, in the aftermath of this surge, the price has demonstrated a consistent stability, remaining within a relatively similar range. This stability has coincided with a broader downturn in market dynamics, where fluctuations and overall activity have shown a decrease across the market.<\/p>\n Despite the prior surge, THORChain’s price has maintained a consistent level, reflecting a degree of resilience amid the current market trends.<\/p>\n <\/p>\n The RUNE token holds a substantial long-term liquidation value surpassing $70 million, signifying a considerable reserve or potential value inherent in the token’s existence. However, a cautionary note emerges from the chart analysis, which reveals a prominent positive deviation highlighted in green.<\/p>\n 3. $RUNE<\/a> LIQUIDATION LEVEL analysis:<\/p>\n – More than 70M in futures liquidations. Green DELTA, means confluence to short.<\/p>\n – More than 1M in Liquidation profile between 2.75$ and 2.65$ (support)<\/p>\n – PA and MS is bearish. There’s more liquidity below than above, at current price. pic.twitter.com\/48j9hI5h35<\/a><\/p>\n \u2014 CryptoSoulz (@SoulzBTC) November 2, 2023<\/a><\/p><\/blockquote>\n This deviation might signify an impending decrease in price in the near future, suggesting a potential shift or correction in the market valuation of the token. This could prompt investors to stay vigilant and consider potential fluctuations in the token’s value in their future investment decisions.<\/p>\n The price of RUNE garnered significant attention subsequent to a substantial market surge, as the cryptocurrency experienced a portfolio increase<\/a> of more than 40% inside that period.<\/p>\nRUNE: Potential To Reverse Bearish Trajectory<\/strong><\/h2>\n
Source: CoinMarketCap<\/a><\/pre>\n
RUNE market cap currently at $1.16 billion on the weekend chart: TradingView.com<\/a><\/pre>\n
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