THORChain Price Prediction: RUNE Rises Again For A 33% Weekly Gain As This Presale Closes On $3 Million Raised

The THORChain price, currently $2.942, is up 3% in the last 24 hours, putting RUNE among the top weekly gainers with a 33% jump despite a 30% drop in trading volume.

Top 10 #CRYPTO Performers in past (7) Days within Top 200 Marketcap #COINS :

1. $ARK 114.46%
2. $SNT 87.88%
3. $POLY 46.48%
4. $RUNE 33.48%
5. $OSMO 25.56%
6. $QTUM 24.90%
7. $AR 23.33%
8. $STSOL 21.43%
9. $MSOL 21.24%
10. $SOL 20.59%

— LλURA-VΞRSΞ (@Laura__crypto) November 1, 2023

Experts associate the pump in THORChain price to the broader market rally, led by Bitcoin (BTC). One analyst says, “If BTC rises, THORChain could go nuts,” with the optimism sprouting from key milestones, relating to liquidity and affiliate fees, block rewards, node operation, RUNE token burning, and user engagement.

Keep a close watch on #Thorchain 👀

In just 7 days:
– 100 nodes securing $179m
– $271m in swaps by 4840 users
– $75k in affiliate fees
– Liquidity fees > block rewards
– 1.36m RUNE burned

Keep an eye on $RUNE. If BTC rise, Thorchain could go nuts. #NFA pic.twitter.com/3eUAw4KcmT

— LaCryptoLycus🐺 (@CryptoLycus) October 28, 2023

As regards token burning, the network is actively burning RUNE tokens to reduce their circulating supply. With this fundamental, the demand-to-supply ratio adjusts in favor of demand, causing a value surge for RUNE.

Meanwhile, some users anticipate a test of the $3.000 psychological level, rallying up fellow RUNE community members to accumulate.

Unpopular opinion (or maybe gut feeling)$RUNE is gonna hit $3 today, then takes a breather while it gains strength to break through 3.10-3.25 HTF resistance

Could be a nice chance to load up on some more if you have space left in your bag 😉

— Kaj (@cajum1990) November 1, 2023

According to CoinGecko, THORChain was the largest gainer in the third quarter (Q3) of 2023, with volume climbing 113% or $1.27 billion.

THORChain so good.$RUNE https://t.co/ze8gaufwAY

— Kadesh⚡💊⚒️👾🎈🗽🎭🍫 (@Kadesh_bull) November 1, 2023

The RUNE token continues to trend, starting the month with the best foot forward as perpetual traders still show optimism for the cryptocurrency, alongside BTC and Injective (INJ).

📈 $101K $RUNE LONGED @$2.9512 MEXC FUTURES 📈

Sentiment:
1H: 📈Bullish
6H: 📈Bullish
24H: 📈Bullish

For live Whale Trade Flow, check – https://t.co/qEq8YmxOMM

— TheCoinMonitor (@TheCoinMonitor_) November 1, 2023

THORChain Price Outlook

THORChain price is testing the $2.984 resistance level after a cumulative 33% surge in the month. However, based on the Relative Strength Index (RSI), RUNE is massively overbought, with the RSI at 82. However, the altcoin is still not ripe for selling, as the upside potential remains plausible.

This is indicated by the overall upward inclination of the RSI, showing momentum is still rising. Similarly, the Awesome Oscillator (AO) is recording large volumes of green histogram bars while moving in the positive territory. This shows the bulls are heading the market.

Increased buying pressure above current levels could see THORChain price breach the immediate barricade at $2.984, potentially extending higher. Such a move could see RUNE market value hit the $2.985 range high, or in a highly bullish case, extrapolate to the $3.408 resistance levels. Such a move would constitute a 15% climb above current levels.

However, investors should remain wary of market manipulators, who make a profit by pumping an asset price only to catch unsuspecting longs off guard by triggering a sell-off.

If THORChain price faces a rejection from the $2.984, the ensuing selling pressure could see RUNE value drop towards the $2.505 level. In the dire case, it could confirm a downtrend and therefore correction by breaking and closing below the mean threshold of the supply zone, now turned bullish breaker. A break and close below the $2.036 level would clear the clog for a continued slump.

If push comes to shove, traders can expect THORChain price to dip into the demand zone, extending from $1.588 to $1.495. A solid move below this order block would render it a bearish breaker, with RUNE likely to revisit the August to September lows of around $1.384.

Those looking for diversification may consider BTCMTX.   Many traders are flocking to it and some prominent analysts speculate that it has 10X growth potential.

THORChain Alternative

Featuring among the top three initial coin offerings (ICOs) to buy in 2023, BTCMTX is the powering token for the Bitcoin Minetrix ecosystem. This is a cloud mining project that has brought Bitcoin mining closer to home. How? It has lowered entry barriers, bolstered security, and alleviated all hassles.

Discover the thriving world of #BitcoinMining, with industry growth projected to hit $12 billion by 2027! 🚀

At #BitcoinMinetrix, we're making mining accessible and secure for everyone through innovative cloud mining and staking methods. pic.twitter.com/memJbYnqle

— Bitcoinminetrix (@bitcoinminetrix) October 29, 2023

According to experts, Bitcoin Minetrix will deliver a 10X return on investment for early investors upon launch. Touted as the future of cloud mining, the project helps investors become BTC owners in a simple and straightforward way. Once you own BTCMTX tokens, you have to stake them for mining credits. The credits can then be burned or redeemed in exchange for mining hash power.

Understanding #CloudMining for $BTC ⛏️💻

Cloud mining allows individuals to engage in #Bitcoin mining without owning or maintaining the equipment.

Discover the benefits:

💰 No upfront hardware expenses.
🔧 Minimal expertise is required.
🌟 Potential for passive rewards. pic.twitter.com/XktSxqwWoW

— Bitcoinminetrix (@bitcoinminetrix) October 29, 2023

Looking to leverage the potential of an industry projected to record a valuation of $12 billion by 2027, Bitcoin Minetrix is the surefire solution for forward-looking investors. The project is in the fourth stage (stage 4), which will end in less than 24 hours.

This is a matter of urgency for anyone looking to buy BTCMTX at the current rate of $0.0113 because the price will increase in the next stage. Thus far, presale sales have raised $2.967 million, out of the $3.385 million target. Do not miss out on Stage 4 rates.

Head over to the Bitcoin Minetrix website to buy BTCMTX using Ethereum (ETH), Binance Coin (BNB), Tether (USDT) or your bank card here.

Also Read Expert Reviews About BTCMTX

• Joe Parys Crypto Reviews Bitcoin Minetrix Presale – A New Altcoin with High Upside Potential
• Michael Wrubel Tips BTCMTX As The Next Big Thing In Cloud Mining – Bitcoin Minetrix Presale Review
• Tech Hustler Reviews a High Upside Potential Altcoin for 2023 Investment
• Zach Humphries Talks About a Crypto Presale with a New Approach to Passive Bitcoin Earnings
• Satoshi Stacker’s YouTube Channel Reviews The New Altcoin That Could Potentially Be The Next Bitcoin

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