THORChain Price Prediction – Is RUNE Poised for a 5x Rally?

Despite the recent market downturn triggered by Bitcoin, THORChain (RUNE) has demonstrated notable resilience, emerging as one of the few cryptocurrencies to stage a recovery.

Over the last few hours, RUNE has surged approximately 5.7%, showcasing its ability to rebound from downward pressure.

However, it’s important to note that RUNE is currently hovering near its lowest level since November 2023 and remains significantly below its all-time high, approximately 90% down.

THORChain (RUNE) Price Prediction

Analyzing the price chart, RUNE appears to be reclaiming important moving averages (MAs), setting up clean trade opportunities.

On the 4-hour timeframe, a 4.56% trade possibility is emerging between the 7 SMA and the 55 SMA. Meanwhile, the 12-hour chart shows RUNE approaching the 21 Exponential Moving Average (EMA), indicating the possibility of further upward momentum.

From a broader perspective, RUNE’s recent movements suggest a potential rally. Historical patterns show that after sharp market crashes, recovery trends often follow, and RUNE appears to be aligning with this pattern.

THORChain has faced significant challenges, including a financial crisis that led to a near-collapse. The project entered a 90-day restructuring phase, causing extreme volatility in its price.

Investors who entered long positions earlier in the year experienced significant gains before the token’s value plummeted. The collapse stemmed from over-leveraging and a lack of liquidity to support the blockchain, resulting in a sharp decline.

Despite these struggles, RUNE still presents short-term trading opportunities. The daily chart suggests that a breakout could trigger substantial moves, with potential gains ranging from 10% to 30%. However, if the price fails to hold key support levels, a measured move to the downside could result in a 29% drop.

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