Date: Tue, Sept 10, 2024, 05:27 PM GMT
The cryptocurrency market has started to show some bullish momentum, with several altcoins breaking out of their downward trends. Among them is Thorchain (RUNE), a decentralized cross-chain liquidity protocol that enables users to swap assets between different blockchain networks. Over the past 24 hours, RUNE has surged by an impressive 6.24%.
A well-known crypto analyst on X (formerly Twitter), @ZAYKCharts, recently shared his analysis of Thorchain. According to him, the 1-day timeframe of RUNE is forming a falling wedge pattern, a bullish signal that could indicate a potential breakout. If RUNE manages to break past the trendline and cross the $4.10 mark, we could see a significant bullish rally ahead.
As of now, RUNE is trading at $4.02, just below the key resistance level. If it breaks out as anticipated, this could be an exciting time for RUNE holders, as the price might continue to climb.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial or investment advice. Always do your research before making any investment decisions.