RUNE Price Analysis Completes Bullish 180, Ready To Top $8.5?

Finding a new bullish spirit with a new week, the Thorchain token ranks high amongst this week’s top performers. With a remarkable uptrend in the last three days, the momentum continues to grow for the RUNE price trend.

Further, the breakout rally in the 4H chart signals a new continuation pattern ready to extend the ongoing bull run. Therefore, with the improving sentiments and the technicals around Thorchain, the RUNE price prediction highlights a bullish outlook.  

Source – Tradingview

With a YTD growth of 194%, the RUNE price continues to sustain the bullish momentum as it ends the year 2023. The ongoing bullish journey of 2023 starts from $1.28 to reach $6.5 while hatching a new breakout plan to prolong the uptrend. 

In the 4H chart, the triangle breakout rally gains momentum to complete a rounding reversal to the $6.5 mark. Further, the bullish trend forms a rounding bottom pattern and teases a breakout as the trading volume spikes. 

Currently, the RUNE coin price trades at $6.36 with minimal intraday growth following the late-night jump of 6.23%. Further, the price trend displays a 21.20% jump in the last three days and forms a triple white soldier pattern. 

Technical indicators:

RSI indicator: Supporting the bullish turnaround, the RSI line takes an about turn to return to the overbought boundary. Therefore, the momentum indicator shows a bullish trend in motion. 

EMA: The ongoing positive trend grows stronger for the 50D and 200D EMA, reflecting a solid underlying demand for RUNE. 

Will RUNE Price Give A Bullish Breakout?

With the market regaining a bullish trend, the altcoins are amplifying returns and projecting a stronger uptrend to end 2023. Similarly, the RUNE coin price signals a strong bullish continuation pattern. 

With a $6.5 breakout, the altcoin price can reach the $8.5 mark before challenging the psychological mark of $10.

However, a short pullback can retest the $6 mark.