{"id":497749,"date":"2022-08-05T05:04:38","date_gmt":"2022-08-05T05:04:38","guid":{"rendered":"https:\/\/wncen.com\/?p=497749"},"modified":"2022-08-05T05:04:38","modified_gmt":"2022-08-05T05:04:38","slug":"thorchain-ready-for-20-climb","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/thorchain-ready-for-20-climb\/","title":{"rendered":"THORChain (RUNE) Ready For 20% Climb Before Next Correction"},"content":{"rendered":"

Cross-chain exchange THORChain (RUNE) price registers a gain of 8.12% seen in the past two days. Amazingly, RUNE price maintains its bullish streak as it sprints above the rising parallel channel pattern.\u00a0 More so, a reversal seen at the support trendline may also ignite a bull run as it hammers through the resistance trendline.<\/span><\/p>\n

On the other hand, referring to the technical analysis, this particular pattern may trigger a price correction following a breach from the bottom trendline. EMAs are seen at $2.5 showing strong resistance on the downside. Thorchain\u2019s 24-hour trading volume registered a loss of 44.6% or $291.6 million.<\/span><\/p>\n

Related Reading: Avalanche (AVAX) Poised For 25% Rally Ahead Of Seoul Web3 Hackathon<\/a><\/div>\n

THORChain To Breach Resistance Trendline<\/b><\/h2>\n

The RUNE\/USDT pair is seen to recover on June 18 when it was able to rebound from its low of $1.45. RUNE price has set an ATH of $3.04 or a growth of 108% in the past six weeks ever since it bottomed out.<\/span><\/p>\n

More so, the massive sell-off which happened over the weekend also prompted a minor correct in the pattern. The confluence support served as a buffer which pumped up RUNE price by 5.66%.<\/span><\/p>\n

According to CoinMarketCap, RUNE currently trades at $2.69 or a decline of 1.70% as of this writing. However, with the channel pattern, the coin should spike by 22% to punch through the overhead line.<\/span><\/p>\n

In the most favorable conditions, RUNE price may be able to break through the resistance line and speed up the bullish movement. But, theoretically, the rising channel pattern most likely points to a bearish momentum especially once RUNE breaks through the support line. With that in mind, the RUNE price is prone to more correction if in case it breaches the lower trendline.<\/span><\/p>\n

The two RSI peaks show some slowdown in bullish perspective.\u00a0 In any case, when the divergence intensifies, traders may have better validation of an impending correction. Judging by the 20- and 50-day EMAs shooting for a crossover spotted at $2.5, increasing chances of recovery above the resistance line is expected.<\/span><\/p>\n

DeFi Tokens Like RUNE On Revival<\/b><\/h2>\n

DeFi tokens like RUNE, SNX, and LDO are in a point of revival. RUNE registered an 11.51% spike on August 3. Although they have not drifted above the red lines, RUNE as well as other DeFi protocols has made a significant leap so far.<\/span><\/p>\n

In other news, THORChain has recently flipped trip switch that will kill the support of both the RUNE BEP-2- and ERC-20-based variants. The IOU tokens are now being swapped for the native RUNE token following THORChain\u2019s mainnet that happened last month.\u00a0<\/span><\/p>\n

The old tokens will lose its value in the next 12 months so these tokens will be automatically upgraded to the native RUNE. This move was initiated to further decentralize the network.<\/span><\/p>\n

Related Reading: Polygon, In Steady Bullish Trend, Could Jack Up MATIC To $1.5<\/a><\/div>\n

<\/p>\n

RUNE total market cap at $885 million on the weekly chart | Source: TradingView.com<\/a>\r\n\r\nFeatured image from Coinpedia, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Cross-chain exchange THORChain (RUNE) price registers a gain of 8.12% seen in the past two days. Amazingly, RUNE price maintains its bullish streak as it sprints above the rising parallel channel pattern.\u00a0 More so, a reversal seen at the support trendline may also ignite a bull run as it hammers through the resistance trendline. On the other hand, referring to the technical analysis, this particular pattern may trigger a price correction following a breach from the bottom trendline. EMAs are seen at $2.5 showing strong resistance on the downside. Thorchain\u2019s 24-hour trading volume registered a loss of 44.6% or $291.6 million. Related Reading: Avalanche (AVAX) Poised For 25% Rally Ahead Of Seoul Web3 Hackathon THORChain To Breach Resistance Trendline The RUNE\/USDT pair is seen to recover on June 18 when it was able to rebound from its low of $1.45. RUNE price has set an ATH of $3.04 or a growth of 108% in the past six weeks ever since it bottomed out. More so, the massive sell-off which happened over the weekend also prompted a minor correct in the pattern. The confluence support served as a buffer which pumped up RUNE price by 5.66%. According to CoinMarketCap, RUNE currently trades at $2.69 or a decline of 1.70% as of this writing. However, with the channel pattern, the coin should spike by 22% to punch through the overhead line. In the most favorable conditions, RUNE price may be able to break through the resistance line and speed up the bullish movement. But, theoretically, the rising channel pattern most likely points to a bearish momentum especially once RUNE breaks through the support line. With that in mind, the RUNE price is prone to more correction if in case it breaches the lower trendline. The two RSI peaks show some slowdown in bullish perspective.\u00a0 In any case, when the divergence intensifies, traders may have better validation of an impending correction. Judging by the 20- and 50-day EMAs shooting for a crossover spotted at $2.5, increasing chances of recovery above the resistance line is expected. DeFi Tokens Like RUNE On Revival DeFi tokens like RUNE, SNX, and LDO are in a point of revival. RUNE registered an 11.51% spike on August 3. Although they have not drifted above the red lines, RUNE as well as other DeFi protocols has made a significant leap so far. In other news, THORChain has recently flipped trip switch that will kill the support of both the RUNE BEP-2- and ERC-20-based variants. The IOU tokens are now being swapped for the native RUNE token following THORChain\u2019s mainnet that happened last month.\u00a0 The old tokens will lose its value in the next 12 months so these tokens will be automatically upgraded to the native RUNE. This move was initiated to further decentralize the network. Related Reading: Polygon, In Steady Bullish Trend, Could Jack Up MATIC To $1.5 RUNE total market cap at $885 million on the weekly chart | Source: TradingView.com Featured image from Coinpedia, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":497750,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,86516],"tags":[1144,65296,8686,85640,86517,83439],"class_list":["post-497749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-thorchain","tag-btcusd","tag-ethbtc","tag-ethusd","tag-rune","tag-rune-price","tag-thorchain"],"acf":[],"yoast_head":"\nTHORChain (RUNE) Ready For 20% Climb Before Next Correction<\/title>\n<meta name=\"description\" content=\"Cross-chain exchange THORChain (RUNE) price registers a gain of 8.12% seen in the past two days. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"THORChain (RUNE) Ready For 20% Climb Before Next Correction","url":"http:\/\/wncen.com\/news\/thorchain-ready-for-20-climb\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/thorchain-ready-for-20-climb\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/THORChain.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/THORChain.png?fit=851%2C444"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","ethbtc","ethusd","rune","rune price","thorchain"],"dateCreated":"2022-08-05T05:04:38Z","datePublished":"2022-08-05T05:04:38Z","dateModified":"2022-08-05T05:04:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"THORChain (RUNE) Ready For 20% Climb Before Next Correction\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/thorchain-ready-for-20-climb\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/thorchain-ready-for-20-climb\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/THORChain.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/THORChain.png?fit=851%2C444\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"ethbtc\",\"ethusd\",\"rune\",\"rune price\",\"thorchain\"],\"dateCreated\":\"2022-08-05T05:04:38Z\",\"datePublished\":\"2022-08-05T05:04:38Z\",\"dateModified\":\"2022-08-05T05:04:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/THORChain.png?fit=851%2C444","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/497749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=497749"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/497749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/497750"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=497749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=497749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=497749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}