Convergence

Strong

THORChain

Time

Cosmos

<p><strong>THORChain’s native token, RUNE, is currently trading at $1.581, marking a 5.9% increase in the last 24 hours and a 3.02% uptick over the past week. </strong></p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="968" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-968x1024.png" alt="" class="wp-image-330075" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-968x1024.png 968w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-284x300.png 284w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-767x812.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-1452x1536.png 1452w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-1935x2048.png 1935w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-142x150.png 142w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-100x106.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-331x350.png 331w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112-788x833.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-112.png 636w" sizes="(max-width: 968px) 100vw, 968px"> 
</figure> 
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p>The short, medium, and long-term trends for RUNE all point in a “Strong Up” direction, suggesting a robust bullish sentiment in the market. However, the near-term momentum presents a mixed bag. The Moving Average Convergence Divergence (MACD) Signal Line crossover indicates a bearish trend, while the Relative Strength Index (RSI-14) center line crossover (RSI &gt; 50) signals bullish momentum. </p> 
<p>Interestingly, the RSI-14 levels suggest that the asset is neither overbought nor oversold at the moment, hovering between RSI &gt; 30 and RSI &lt; 70.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<h2 class="wp-block-heading" id="technical-patterns-bullish-pennant-and-fibonacci-retracement">Technical Patterns: Bullish Pennant and Fibonacci Retracement</h2> 
<p>RUNE has <a href="https://twitter.com/WorldOfCharts1/status/1699128203091030465" target="_blank" rel="noopener noreferrer nofollow">formed </a>a Bullish Pennant in the H4 timeframe, a pattern often considered a precursor to another upward move. Should this pattern break out, market analysts predict that the token could surge towards the $2.50 mark.</p> 
<p>The asset recently <a href="https://twitter.com/chartmonkie/status/1699684847336165810" target="_blank" rel="noopener noreferrer nofollow">hit </a>a resistance level at $1.975, following which it experienced a pullback to the 0.382 Fibonacci retracement level. This pullback came after RUNE broke free from a Falling Wedge pattern and crossed the 1-week Moving Average 50 (1W MA50), indicating a possible trend reversal.</p> 
<h2 class="wp-block-heading" id="shorting-opportunities-what-to-watch-for">Shorting Opportunities: What to Watch For</h2> 
<p>For traders interested in <a href="https://twitter.com/ThinkBig_G/status/1699675703179092426" target="_blank" rel="noopener noreferrer nofollow">shorting </a>RUNE, there are specific conditions to monitor:</p> 
<ol> 
 <li><strong>Strong Rejection After Tagging Range 2 High</strong>: If the price experiences a strong rejection after reaching the Range 2 High, it could be an ideal shorting opportunity.</li> 
 <li><strong>Clear Invalidation</strong>: On the flip side, if the price reclaims the Range 2 High and sustains it as a support level, shorting would be invalidated.</li> 
</ol> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="521" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-1024x521.png" alt="" class="wp-image-330085" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-1024x521.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-300x153.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-766x390.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-1536x782.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-2048x1042.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-295x150.png 295w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-100x51.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-688x350.png 688w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113-788x400.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-113.png 680w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>THORChain’s RUNE token is navigating a complex landscape, marked by both bullish and bearish indicators. While the overall trend remains strongly upward, traders must exercise caution and closely monitor key technical levels and patterns to make informed decisions. Whether you’re looking to go long or considering a short position, the current market conditions offer opportunities for both.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/thorchain-rune-regains-lost-ground-is-now-the-time-for-investors-to-jump-in/">THORChain (RUNE) Regains Lost Ground – Is Now the Time for Investors to Jump In?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

THORChain (RUNE) Regains Lost Ground – Is Now the Time for Investors to Jump In?

Table of Contents

CaptainAltcoin

Other articles published on Sep 7, 2023

IMF And FSB Releases G20 Summit Paper On Crypto Regulation

Solana Killer Aptos (APT) Sees Biggest Weekly Jump in This Metric

Grayscale Becomes Second-Largest Holder of Bitcoin, Amassing 628,000 BTC Valued at Over $16,000,0...

B2BinPay Expands Its Payment Solutions With a New v17 Update

Russian lawmakers believe digital ruble will replace banks

Record Low Dogecoin Volatility, Solana Ecosystem Collapsed– Borroe.Finance Saves the Day

Join our free newsletter for daily crypto updates!