ThorChain (RUNE) Token Surging Following Recent Breakout, More Upside Rally Coming?

ThorChain (RUNE) Token Surging Following Recent Breakout, More Upside Rally Coming?

By Nilesh Hembade 14-Sept-2023 4:45 AM GMT

ThorChain (RUNE) Token Surging Following Recent Breakout, More Upside Rally Coming

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 Introduction:

ThorChain’s native token, $RUNE, has been making waves today as it experiences a remarkable surge. The price of the RUNE token has surged to $1.61, marking an impressive gain of +8.26% in just the past 24 hours, and the token’s market capitalization has soared to an impressive $543 million.

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Recent Breakout in RUNE:

One of the key factors contributing to this surge is a recent breakout in the price of the RUNE token. Today, the token broke out of a symmetrical triangle pattern, which had been forming in its price chart. After testing the bottom support level at $1.48, RUNE’s price soared as it broke through the trendline at $1.56.

Thorchain Rune Chart
Source: TradingView

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If this breakout can sustain its momentum, there is a possibility that the price could touch the $1.86 level, representing an additional gain of +16.0%. This prospect of continued upward movement has been a driving force behind the surge in the RUNE token’s value today.

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Conclusion

ThorChain’s RUNE token has experienced a notable surge following a recent breakout, and its price is currently on an upward trajectory. With the potential for further gains and the innovative features offered by the THORChain protocol, the cryptocurrency community is keeping a close eye on this project.

Disclaimer:

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