RUNE Price Skyrocketed; $3 Possible?

THORChain price prediction is highly bullish for November 2023 as well as for the long term. It rallied about 87% from the recent swing low of $1.568 and formed a bullish pattern.

RUNE price broke out of the $2.275 hurdle with a high volume which triggered positive sentiment and grabbed the attention of investors.

The crypto price rose for the 13th consecutive day and the upward momentum is still intact. It is rising upward by forming higher highs; showing the confidence of the bulls.

THORChain crypto price sustains above the 50-day and 200-day EMA; showcasing an uptrend. However, the current price has gone far away from the EMAs. So, a short-term retracement to EMA or a narrow-range consolidation is possible.

The recent rally in RUNE price looks reliable and the price is likely to hold the gains. On the higher side, $3.139 will act as an immediate hurdle for the bulls. The price is near the supply zone, it will be interesting to see how prices react in the coming weeks.

RUNE price is trading at $2.885 with an intraday rise of 4.91%. The 24-hour volume to market cap is 20.15%.

Will the Rally in THORChain Price Continue in November?

THORChain price prediction favors the bulls and suggests that the rally might continue in the coming months. The price pattern of the RUNE crypto is bullish and buyers are dominating on the higher levels.

Till the crypto price sustains above $2.275, the buyers will remain active. Any short-term retracement to support will be bought up and selling pressure might get easily absorbed.

On the higher side, if buyers succeed in breaking out of the $3.139 hurdle, then more room for upside will open. The analysis suggests that the THORChain price is in bulls’ grip and likely to perform well in November.

Downfall in RUNE Price Takes A Halt

RUNE price displayed a bullish pattern on a daily and weekly timeframe. It seems that the correction in the crypto has taken a halt and is getting ready for a massive rally.

The RUNE/BTC pair is also forming a similar pattern which shows that buyers in multiple pairs have turned bullish.

The MACD curve slopes upward and the gap between the moving average and MACD line is getting wider. It shows the strength of the bulls with a more pending rally. The RSI and supertrend both are bullish and indicate that the price may soon reach $3.00.

Conclusion

THORChain price prediction is bullish for the long term and suggests more upside is pending.

The recent rally in RUNE crypto looks reliable because it is supported by a high buying volume. The analysis suggests that the RUNE price is in bulls’ grip and likely to reach the $3.00 mark soon.

Technical Levels

Resistance levels: $3.319 and $3.500
Support levels: $2.275 and $2.000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.