THORChain

The post <a href="https://coinpedia.org/price-analysis/thorchain-jumps-as-bullish-sentiment-intensifies-rune-price-to-hit-10/" rel="noopener noreferrer nofollow">THORChain Jumps As Bullish Sentiment Intensifies! RUNE Price To Hit $10?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Despite increased bearish influence in the cryptocurrency industry, the RUNE price has displayed a jump of over 8% within the past day and 23.16% over the past seven days, indicating a rising bullish sentiment for the altcoin in the crypto space.
The <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">RUNE price</a> displayed a neutral trend by trading in a consolidated range between $3.50 and $6.130 for the first two months. As the volatility in the crypto industry increased, the bulls regained momentum and recorded a jump of 108.96% within the next seven days.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/eGDKrRYTBLitij7sJVV_nMZ5L8STaZcAJIOT7SAk1cFC_pBqnfVIr3_76oLo0XO8Zr4NNWfZhh5YWWVXxt2a4W1KvjXYUd5xuUi2ibWRB2dBujL4M8L9uEzWcLJooYHT5Lhc3eeJxXeUZ_MiigNp8GY" alt="RUNE Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: RUNE/USDT
 </figcaption>
</figure>
After facing rejection above its resistance level of $9.950, the bulls lost momentum, resulting in the THORChain price recording a correction of 30.97% in its portfolio. Following this, the <a href="https://markets.coinpedia.org/thorchain/" rel="noopener noreferrer nofollow">RUNE token</a> traded sideways for a while. As the volatility grew, the bulls failed to hold above its support level of $7.335.
This resulted in the altcoin losing 35.37% in valuation. Since then, the price has been trading between $4.740 and $6.130 and is on the verge of testing its resistance level, the outcome of which is unpredictable. Moreover, the EMA 50-day acts as a resistance, indicating a bearish sentiment in the industry.
The Relative Strength Index (RSI) shows a significant rise in the chart, highlighting an increase in the buying-over-selling pressure in the crypto space. Furthermore, the average displays a bullish curve, suggesting the price will continue gaining value in the coming time.
<h2 class="wp-block-heading" id="h-will-rune-price-go-up">Will RUNE Price Go Up?</h2>
If the market pushes the RUNE price above the resistance level of $6.130, the bulls will continue trading under a positive influence and prepare to test its upper resistance level of $7.335. Maintaining the price at that level will set the stage for THORChain price to prepare to test its upper high of $8.725.
Negatively, if the bearish trend reversal occurs, the RUNE token will lose momentum and plunge toward its crucial support level of $4.740 in the coming time.

THORChain Jumps As Bullish Sentiment Intensifies! RUNE Price To Hit $10?

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