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The THORChain price surged 19% within the last 24 hours with the token trading at $3.43 as of 3:30 a.m. EST.
RUNE has broken out of a descending channel and surpassed a crucial resistance level at $3. Should the weekly candle close above $3, a breakout on THORChain price will be imminent.
$RUNE So far, So good..!!
Breaking out of the Descending Channel and a Crucial Resistance level (3$).
However, we have 2 days left for the Weekly candle to close.
If Weekly candle Closes above 3$, we might see the Start of a Bull run.#Crypto #RUNE #RUNEUSDT pic.twitter.com/AYP7cq9Y7Z
— Captain Faibik (@CryptoFaibik) November 4, 2023
THORChain Price Analysis
Looking at 4-hour RUNE/USD charts, the Relative Strength Indicator is also on an upward trajectory in the overbought region. This means bull dominance on THORChain price, with bulls now looking to break into the $4 level.
The MACD indicator also moves in the green zone, showing bullishness on THORChain. The 5-day moving average has also exceeded the 15-day moving average to form a Golden cross. This signals bullishness on THORChain price. Volatility levels on RUNE are high, as shown by the Bollinger bands, which are currently diverging. These levels will likely remain high as a result of the token’s trading volume surging by 107% within 24 hours.
Meanwhile, as the THORChain price gears up for a breakout, Bitcoin Minetrix also comes with explosive potential, with investors piling into the BTCMTX token pre-sale.
Bitcoin Minetrix’s BTCMTX Pre-sale Exceeds Expectations
The pre-sale, which commenced with a price of $0.0114, has already raised a staggering $3.28 million, indicating a significant surge in investor interest and confidence. This success can be attributed to the platform’s innovative approach to mining and the utility-driven demand for the token, which emphasizes scarcity and potential profitability for investors.
The value proposition of this platform is that it facilitates BTC mining for its users by staking BTCMTX on its Ethereum-based network. It’s meant to be carried out with as little technological know-how and effort on the part of the users as possible.
BTC mining credits, earned by staking on BTCMTX, may be used on the platform’s high-tech cloud mining gear. This method drastically reduces the barrier to entry for users, allowing more people to contribute to the hash rate of the network and receive BTC rewards.
Considering the Lock-in Period for #BitcoinMinetrix vs Traditional Cloud Mining:#BTCMTX: Variable dependent on staking. ⏳
Traditional Cloud Mining: Fixed timeframe. 🔒#Crypto #Web3 pic.twitter.com/GdHcPbOwiv
— Bitcoinminetrix (@bitcoinminetrix) October 22, 2023
Tokenomics and Price Forecasts
BTCMTX’s intrinsic value within the ecosystem is bolstered by its fundamental role in the platform’s operations, driving substantial utility-driven demand. Furthermore, the majority of tokens being locked for staking purposes and the payout of rewards in the form of mining credits highlight the token’s limited supply, further underpinning its potential value.
Notable traders and industry experts have projected an optimistic outlook for BTCMTX, with expectations of significant price appreciation in the foreseeable future.
Renowned “gem hunting” YouTuber Jacob Bury has publicly expressed his confidence in Bitcoin Minetrix, predicting a tenfold increase in its value after it lists.
The overwhelming support and positive sentiment surrounding Bitcoin Minetrix and its native token have precipitated a rapid sell-out of the pre-sale tokens. With the current price standing at $0.0114, investors are advised to act swiftly, as the price is expected to surge in the next four days.
This growing demand and anticipated price hike signify a promising trajectory for BTCMTX and Bitcoin Minetrix, solidifying its position as a disruptive force in the cryptocurrency mining landscape.
Bitcoin Minetrix’s pre-sale success and the enthusiastic reception from industry experts and investors are indicative of the platform’s potential to revolutionize the way individuals engage with Bitcoin mining.
All eyes are now on Bitcoin Minetrix’s future endeavours and the THORChain price, which holds prospects of a rally in the short term.
Visit here to be part of the BTCMTX pre-sale.
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