The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/rune-price-analysis-as-demand-overloads-will-rune-hit-2/">RUNE Price Analysis: As Demand Overloads, Will RUNE Hit $2?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
The RUNE price action projects a new battle ongoing between the two sideways-moving 50-day and 200-day EMA. With a growing consolidation range, the recent jump completes a positive cycle teasing a breakout rally.&nbsp; 
However, the strong bearish presence at the overhead ceiling will prove to be a daunting task for buyers to complete. Despite some bearish obstacles, the <a href="https://coinpedia.org/price-prediction/thorchain-rune-price-prediction/">RUNE price prediction</a> presents a bullish outlook.&nbsp;&nbsp; 
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 <img decoding="async" width="1024" height="478" src="https://image.coinpedia.org/wp-content/uploads/2023/10/21131110/RUNEUSD_2023-10-21_11-58-46-1024x478.png" alt="" class="wp-image-238660" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/21131110/RUNEUSD_2023-10-21_11-58-46-1024x478.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/21131110/RUNEUSD_2023-10-21_11-58-46-300x140.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/21131110/RUNEUSD_2023-10-21_11-58-46-768x359.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/21131110/RUNEUSD_2023-10-21_11-58-46-1536x718.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/21131110/RUNEUSD_2023-10-21_11-58-46-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/21131110/RUNEUSD_2023-10-21_11-58-46.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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The RUNE price currently trades at $1.66, completing a successful bullish reversal from the 200-day EMA. Further, this prolongs the overall sideways trend within the two crucial EMAs: 50-day and 200-day.&nbsp; 
As the Thorchain market value bounced 7.55% last night, the uptrend continues today with an intraday growth of 1.83%. As of now, the uptrend challenges the overhead ceiling of $1.67, coinciding with the Fibonacci level of 38.20% Fibonacci level. 
Supporting the bullish continuation thesis, the overall market recovery with improving sentiments of altcoins increases breakout chances. Moreover, the bullish engulfing candle with additional intraday growth teases a prolonged uptrend. 
Technical indicators: 
RSI indicator: The daily RSI line spikes along with the price jump rejection of any potential divergences. This increases the uptrend credibility and highlights strong underlying bullish sentiments.&nbsp; 
EMA: The 50-day EMA moves along the 38.2% Fibonacci level at $1.67 to concrete the overhead ceiling. However, the high-speed reversal from the dynamic support of the 200-day EMA teases an upside breakout.&nbsp; 
<h2 class="wp-block-heading" id="h-will-rune-price-cross-above-the-50-day-ema">Will RUNE Price Cross Above The 50-day EMA?</h2> 
As greed influences the overall market sentiments, the chances of altcoins continuing the uptrend this Uptober increases significantly. Therefore, the sideline Thorchain buyers can find a new entry opportunity shortly with the 50-day EMA.&nbsp; 
On the upside, the breakout rally can reach the $2.15 mark before taking any serious bearish hits. However, a reversal from $1.67 will result in another retest of the 200-day EMA.&nbsp;

RUNE Price Analysis: As Demand Overloads, Will RUNE Hit $2?

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