- RUNE tapped a three-month high, thanks to its 46% increase in the last seven days.
- Unless demand for RUNE increases, the token could correct to $0.85.
- The CVD and CMF aligned with a large buying presence, indicating that RUNE could head for $1.50.
Over the last week, the majority of altcoins failed to produce any significant move. But ThorChain (RUNE) managed to stand out, producing a staggering 46.71% hike in the last seven days. RUNE’s increase also ensured that it outperformed memecoins including Dogecoin (DOGE) and Shiba Inu (SHIB), which have had a recent profitable period.
Although RUNE’s rise made it the top gainer out of the top 100 assets, it also represents a three-month high since it last reached the price in May.
The tremendous rally has raised questions about whether ThorChain’s native token could remain a focal point of interest going forward. According to the RUNE/USD 4-hour chart, the token scaled past multiple resistance turned them into support, and finally formed a bullish market structure.
Correction on the Horizon
After reaching a peak of $1.41, RUNE retraced to $1.36 — a sign that market participants had taken some prof…
The post Will RUNE Continue to Steal the Spotlight from Other Altcoins? appeared first on Coin Edition.
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