THORChain (RUNE) has shown significant growth, breaking the trendline and maintaining the $4 level. The token has increased by more than 55% since early August.
RUNE Shows Bullish Signals
At press time, THORChain traded at $4.14 with an intraday rise of over 1.90%. Its trading volume surged by more than 190% during the intraday session. With a market cap of $1.24 billion, the token ranks 53rd on CoinMarketCap. On the daily chart, RUNE demonstrated bullish trends, breaking the $4 level. The Relative Strength Index (RSI) shot up to 56, indicating positive momentum. The next resistance levels are $4.50 and $5.20. In a recent tweet, user @iamjackis noted that the THORChain chart looks strong and ready for an upward movement: "I still stand by it. Generational buying opportunities right here, worth the risk. Bought RUNE today."
Development Activity
Significant price accumulation was followed by a sharp uptick in THORChain development activity. Social dominance data remained flat around 0.1%, indicating decreased online discussion activity. However, THORChain price action suggests readiness for further growth. If it breaks the $4.50 level, the next significant resistance levels will be $5 and $5.90.
Despite market volatility, THORChain has shown significant growth. Further price increases may happen in the upcoming trading sessions.
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