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The THORChain price has soared 10% in the past 24 hours to trade for $6.038 as of 02:08 a.m. EST.
According to data on CoinGecko, RUNE is up 25% in the past week and almost 400% year-to-date. Analysts observe that it has shattered a critical resistance level on the four-hour timeframe.
$RUNE breaking through the 4H resistance, closing in on $6 USD. pic.twitter.com/kYQTaRTfpx
— BATMAN ⚡ (@CryptosBatman) May 8, 2024
Renowned crypto trader and analyst, @CryptoTony_ says $4.30 is the level to defend if we are to be sure that the bulls are leading the RUNE market.
$4.30 is the level we need to hold to ensure bulls are in control throughout this period pic.twitter.com/MX3v1IKEQw
— Crypto Tony (@CryptoTony__) May 8, 2024
The surge in the THORChain price is attributed to the network deploying the THORNode v132, a mainnet upgrade expected to deliver better execution when closing loans, and achieve outbound gas fixes that will make transaction fees on Layer 1 (L1) cheaper than ever.
THORNode v132 has landed
– Better execution when closing loans
– Outbound gas fixes will make L1 tx fees cheaper than everMore Quality of Life fixes coming in the next version. THORChads ship. Onwards! pic.twitter.com/ynA5rJd8E4
— THORChain (@THORChain) May 8, 2024
THORChain Price Prediction
The THORChain price has broken above resistance due to the descending trendline, recording higher highs on the one-day timeframe. Buying pressure continues to rise, as shown by the climbing Relative Strength Index (RSI).
The lower highs on the RSI point to a growing bullish sentiment, which could bode well for the THORChain price. To confirm the continuation of the uptrend, the THORChain price must foray into the Fibonacci Golden Zone between the 61.8% and 38.2% retracement levels.
The green bars of the volume profile also support the odds for further upside. This adds credence to the bullish thesis. A flip of the 38.2% Fibonacci retracement level into a support floor at $8.725 would solidify the uptrend.
TradingView: RUNE/USDT 1-day chart
On the other hand, if profit booking takes its course, the THORChain price could pull back, falling below the descending trendline. A candlestick close below $4.000 would produce a lower low, effectively confirming a trend reversal. This would invalidate the bullish thesis.
Meanwhile, analysts at Cryptonews say that 5SCAPE, advertised as the world’s first AR/VR crypto, could record 10X growth on launch.
Promising Alternative To THORChain
5SCAPE is the native token for the 5thScape ecosystem. The project is out to be a game-changer in the VR and AR space, bringing in a new era for this technology.
🎮 Calling all VR and MMA aficionados! Get ready to be blown away as 5thScape is about to redefine virtual combat with "MMA Cage Conquest" – a game that thrusts you into the heart-pounding world of MMA in VR. 🥊
🌟 Brace yourselves for the "MMA Cage Conquest" launch on the Meta… pic.twitter.com/MHbKgKHIxb
— 5th Scape (@5th_scape) May 3, 2024
With this project, you get to enjoy the immersive experiences poised to redefine boundaries and shape the future of entertainment and education.
Hey #5thScape fam! 🎮 Just dropping by to share some epic news: our dedicated team has been tirelessly leveling up the thrill factor in our latest project!
🚀 Stay tuned for the most cutting-edge updates and enhancements as we continue to redefine what’s possible in gaming.… pic.twitter.com/qwrDZH5p4a
— 5th Scape (@5th_scape) April 30, 2024
The project focuses on VR games, with plans also underway to integrate additional forms of VR and AR content like educational experiences, social applications, and creative tools.
🌟 Unlock new dimensions with 5th Scape! Dive into adrenaline-pumping battles, precision archery, and high-speed racing—all within the limitless virtual realm. Holding 5SCAPE tokens unlocks exclusive benefits like free games, discounts, and seamless in-world transactions.
The… pic.twitter.com/LNO30KXRPW— 5th Scape (@5th_scape) April 20, 2024
5SCAPE Token Use Cases
The ticker for the 5th Scape project is 5SCAPE, a utility token within the ecosystem. Token holders have unlimited access to premium VR content, voting rights, and potential staking opportunities for holders.
Step into new worlds of imagination. 🕹️🚀@5thScape is building a next-gen #VR and #metaverse ecosystem to redefine virtual reality.
Collect rare digital assets. The possibilities are endless!
Join the community – https://t.co/ewBcsEeltG#gaming #innovation #blockchain pic.twitter.com/hUe3cDDYnT
— 5th Scape (@5th_scape) February 11, 2024
It provides access to premium VR content such that holders receive exclusive access to games, experiences, and features within the platform.
5SCAPE is also a Play to Earn (P2E) token, with this mechanism enabling players to get incentives with 5SCAPE tokens that can be traded upon listing. Additionally, the token has a staking function, with details to be announced later.
So far, the presale has collected over $5.8 million. The current price of $0.00327 per token will stand only for a while longer before a 15% price increase.
If you are interested, get ahead of the price hike while you still can.
Also Read:
- The VR Industry Is All Set To Receive A Massive Boost Thanks to 5th Scape (5SCAPE)
- If You Believe In The Future Of AR/VR, 5th Scape (5SCAPE) Is The Best Project To Invest In
- How To Buy 5th Scape – 5SCAPE Token Presale Review
- 5th Scape Crypto Price Prediction – 5SCAPE Price Potential for 2024
- Upcoming Crypto Presales: Unlock Early Investment Opportunities!
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