THORChain

Time

<ul class="list-ic vertical"> 
 <li> 1 <a>RUNE crypto completed the retest after breaking out of a trendline resistance.</a> </li> 
 <li> 2 <a>A positive divergence between the THORChain (RUNE) price and RSI was observed suggesting the trend will continue.</a> </li> 
</ul> 
THORChain (RUNE) cryptocurrency experienced a resurgence, after bottoming out from the lows near the 200-day Exponential Moving Average (EMA). The broader market sentiment has improved, restoring confidence among investors, which propelled the cryptocurrency to approach the $7.8 mark swiftly. 
Additionally, the asset has begun to chart higher peaks, bolstered by an increase in trading volume. Yet, resistance remains robust around the $7.8 threshold. 
Let’s analyze whether the bulls are strong enough to breach the $7.8 barrier, or if the bearish pressure will prevail, potentially reversing the recent gains and initiating a corrective phase in the short-term trend. 
<h2 class="wp-block-heading" id="strong-rune-crypto-volume-and-volatility-analysis-strong">RUNE Crypto: Volume and Volatility Analysis</h2> 
Recent trading sessions have seen a significant increase in volume inflow for RUNE crypto, indicating strong buying interest that’s driving the price upward. The intraday volume reached $197.11 Million, marking an 18% increase from previous sessions. The volume-to-market cap ratio stands at 9.28%, pointing to moderate market volatility. <iframe loading="lazy" title="Santiment Chart: Price (RUNE), Volume (RUNE), Price (RUNE) MA(50), Price (RUNE) MA(200)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=thorchain&amp;pt=RUNE&amp;df=2024-03-14T00%3A00%3A00.000Z&amp;dt=2024-05-25T18%3A29%3A59.455Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd%3B%5B2%3Bprice_usd%3BMA50%5D%3B%5B2%3Bprice_usd%3BMA200%5D&amp;wax=0%3B1&amp;wc=%2333bd5d%3B%23D2D6E7%3B%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%3B%3B" scrolling="no"></iframe> 
Currently, there are 334.57 million <a href="https://www.thecoinrepublic.com/2023/10/12/thorchain-price-can-rune-price-thrust-above-4-and-go-more/" target="_blank" rel="noreferrer noopener">RUNE tokens</a> in circulation, which is 81% of the total supply of 412.75 million tokens. 
Additionally, the Total Value Locked (TVL) in RUNE Crypto has been on an upward trend since February 2024. This growth in TVL signifies a shift in market engagement, a rising demand for the RUNE project, and a growing propensity among investors to maintain their investments. 
<h3 class="wp-block-heading" id="strong-is-it-a-good-time-to-invest-in-thorchain-rune-strong">Is It A Good Time to Invest In THORChain (RUNE)?</h3> 
From a technical point of view, RUNE has completed the retest followed by a breakout of an upper trendline resistance, signaling an end to the corrective trend. 
Yet, the challenge of overcoming the $7.8 resistance level remains, which is the current supply zone. If they manage to sustain above this level, the crypto could potentially experience a short-term surge, possibly increasing by 50% to reach annual highs.  
<a href="https://in.tradingview.com/chart/RUNEUSD/YUydRXDw-RUNE-crypto-A-Potential-50-Upswing-Awaits-Beyond-This-level/"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a>&nbsp; <a href="https://in.tradingview.com/"> </a>  
Conversely, should the bulls be unable to break past this recent peak and the bears regain control, we might see the price enter a phase of consolidation or undergo another correction. 
Furthermore, the positioning of both the RSI and SMA lines above their respective mean lines indicates a bullish sentiment. The observed positive divergence between the RSI and the price further hints at an impending bullish trend. 
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion</h3> 
THORChain (RUNE) is rising towards $7.8 amid the improved market sentiment. Trading volume is up, suggesting bullish interest. With 334.57 million tokens in circulation, TVL’s rise reflects increased market participation and investor commitment.&nbsp; 
From a technical perspective, RUNE has breached trendline resistance, aiming to surpass the $7.8 resistance. A successful break could lead to a 50% gain, reaching annual highs. However, failure to maintain this momentum could result in consolidation or correction. Positive RSI and SMA indicators support a bullish outlook.

RUNE Crypto: A Potential 50% Upswing Awaits Beyond Present Level

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