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P_S_trade
Jan 31, 2024 10:50 AM

THORChain RUNE Price wondering where to turn next 

RUNE/USDT Perpetual ContractBingX

Description

The RUNEUSDT price does not behave like most altcoins or even BTC.
So, we can assume that MM is leading it "where it needs to go."

The previous wave of RUNE price growth was also "on its own" - it was driven up without any correction and despite negative news inputs on the market.

We don't know whether the same situation will happen again now, but we will be watching the price of THORChain token very closely around $5.25

- If it is fixed higher, then we take the blue scenario as a reference point.
- If sales begin and the price does not go above $5.25, then the red scenario will become quite realistic.

Frankly speaking, after such a wave of growth as we had in the second half of 2023 (almost uncorrected), it would be nice to see a deeper correction, perhaps even to $2.40
If we don't see this, then the targets for the pump are much higher, and we will need "to jump on board" in time

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Trade closed: target reached

Runeusdt price moved nicely in blue waves, resulting in a +135% trade.
Comments
ego1smo
Rune and SOL have partnered, which may give the price a boost.
P_S_trade
@ego1smo, You are right and yesterday quite a large amount of RUNE was burned
Let's see how the price will behave in the future
MyCryptoParadise
Conversely, if selling begins and the price doesn't rise above $5.25, the red (bearish) scenario becomes more realistic.
P_S_trade
@MyCryptoParadise, thank you for your comment
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