- RUNE shows promising signs of a breakout, with a potential 140% gain as prices move toward the $15.75 target.
- After volatility, RUNE’s price has stabilized, with analysts predicting continued bullish momentum toward key resistance levels.
- Recent breakout signals renewed buying interest, with analysts forecasting further upward movement if resistance is broken.
RUNE (THORChain) is showing promising signs of an impending rally, with analyst Javon Marks predicting a potential surge toward $15.75. Recent price action suggests a smaller breakout is in motion, which could drive the token toward a +140% increase.
Market Trends and Historical Analysis
Between 2021 and early 2024, the price of RUNE fluctuated, reaching around $28,000 in late 2021 due to a strong upward trend. However, sustaining higher levels proved difficult. RUNE had several lower highs in 2022, which completed a sharp decline beginning in April of that year. The market began stabilizing in late 2022 as a result of this protracted slump.
Source: Javon Marks
Prices found support at lower levels during this period, creating a solid foundation for potential future growth. Early 2023 marked the beginning of a renewed buying interest, which lifted prices above previous resistance zones.
This sparked hopes of a recovery, although prices remained below the 2021 highs. By mid-2023, $RUNE entered a consolidation phase, trading within a defined range before showing some modest recovery in late 2023.
Breakout Potential and Analyst Forecast
Analyst Javon Marks believes that RUNE is preparing for a significant move. The token has steadied between 6,000 and 7,000, according to the price chart. A recent breakout, although smaller, suggests that the market may be ready to push higher. The current trend points to the possibility of a continuation towards the $15.75 target, offering a potential +140% return.
Meanwhile, analyst Dona.Inj suggests that RUNE’s future performance hinges on flipping key resistance levels. The chart shows that a dramatic market ascent followed a breakout after extended consolidation between support at 0.745 and resistance at 6.396. Consequently, the current bullish momentum could break through more resistance zones, creating further opportunities for growth.
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