Price Analysis

RUNE Price Analysis: Can the Potential Rally Reach $3.7 Mark?

Despite a widespread uncertainty in crypto trades, the propels RUNE prices above $2 in response to the rising channel pattern.
Published by
RUNE Price Analysis: Can the Potential Rally Reach $3.7 Mark?

Since last month THORChain(Rune) price resonating within a parallel channel pattern reflects a steady recovery rally. The altcoin has twice retested the above and bottom trendline, indicating the traders are actively responding to a channel pattern. Can the bullish recovery surpass.3 $ 

Advertisement

 Key points:

  • RUNE prices have increased by 5.66 in the past four days
  • The RUNE buyers reattempts to breach the descending trendline
  • The 24-hour trading volume in the Thorchain coin is $95.$1.3 Million, indicating a 25.7% loss. 

Source-Tradingview

The RUNE price action takes a bullish reversal from the $1.47 mark, crossing above $2 to test the overhead resistance at the $2.41 mark. As a result, the market value increased by 56.3% in late June.

However, the volatile markets over the last few weeks maintained sufficient selling pressure and reflected the formation of channel pattern formation.

The RUNE price action shows the recent bullish cycle within the channel triggered with a morning star pattern at the support trendline. However, the 50-day SMA opposes the bullish growth teasing a reversal from thee dine.

If the buying pressure grows to propel the RUNE prices above the resistance trendline, traders can expect a price jump to the $3.5 supply zone.

On the other hand, a bearish breakout will breach the $2 mark and test the support level at $1.78.

In a nutshell, RUNE price analysis showcases a lack of bullish commitment as the decreased trading volume hits the resistance trendline.

Advertisement

Technical indicator

The MACD indicator shows a gradual increase in buying pressure as the MACD and signal lines maintain a positive alignment. Moreover, the lines may shortly cross into the positive territory as the bullish histograms resurface.

The RSI indicator shows a reversal struggling to sustain above the halfway line indicating a weakness in the underlying bullishness.

  • Resistance Levels: $2.5 and $3.4
  • Support Levels: $2 and $1.5
Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism

SUI price has once again found strength at its ascending support, creating expectations for another…

October 1, 2025
  • Price Analysis

Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?

Chainlink price has attracted fresh attention after recent analyst insights highlighted key technical patterns. The…

September 30, 2025
  • Price Analysis

Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M

Dogecoin price crashed to an important support level as the crypto market pulled back. This…

September 30, 2025
  • Price Analysis

Ethereum Price Eyes $8,600 As Institutions And Whales Double Down

Ethereum price continues to dominate discussions as analysts highlight repeating cycles that historically triggered strong…

September 30, 2025
  • Price Analysis

Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45

Dogecoin price has been consolidating inside a rising channel, hinting at another potential bullish setup.…

September 30, 2025
  • Price Analysis

Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data

Bitcoin price rose for two consecutive days as it moved from a low of $108,650…

September 29, 2025