ThorChain's cryptocurrency token RUNE has experienced a significant surge, breaking past a major resistance level and possibly indicating an upward trend in the crypto market. The token rose 11% on December 3, 2024, reaching $6.732. This breakout comes after three years of downward pressure, and higher trading volume suggests growing investor interest. Analysts project further gains for RUNE, with the next key price level expected to be between $8.50 and $9.00. The long-term target is set at $21.662, representing a significant increase from the breakout level and potentially bringing RUNE back to its all-time high. Traders are cautious about a possible retest of the breakout zone near $5.50 to $6.00, as this area is expected to serve as a support level. This breakout also signifies growing confidence in ThorChain's ecosystem and a shift in sentiment from the previous bearish conditions. Maintaining momentum depends on market conditions, trading volume, and investor sentiment in the coming weeks.
- Content Editor ( cryptonewsland.com )
- 2024-12-04
ThorChain RUNE Jumps 71%, Targets 237% Growth After Breaking Long Resistance