{"id":415824,"date":"2024-08-19T14:30:27","date_gmt":"2024-08-19T09:00:27","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=415824"},"modified":"2024-08-19T12:37:21","modified_gmt":"2024-08-19T07:07:21","slug":"thorchain-aims-for-10-can-rune-surge-200-soon","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/thorchain-aims-for-10-can-rune-surge-200-soon\/","title":{"rendered":"THORChain aims for $10: Can RUNE surge 200% soon?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">RUNE\u2019s Social Dominance increased sharply, reflecting its popularity.\u00a0\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">The token\u2019s trading volume dropped along with its price in the past 24 hours.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/predictions\/thorchain-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">THORChain [RUNE]<\/span><\/a><span style=\"font-weight: 400;\"> showcased remarkable performance last week with its double-digit price increase. But the scenario changed in the last 24 hours as the token\u2019s chart turned red. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Is this a short price correction, or will bears push the token\u2019s price further down?\u00a0<\/span><\/p>\n<h2><b>THORChain\u2019s bullish week<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">CoinMarketCap\u2019s <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/thorchain\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> revealed that RUNE investors had a profitable week, as the token\u2019s value surged by more than 25% during that time. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, bears gained control in the last 24 hours and pushed THORChain\u2019s value down by over 2.5%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, RUNE was trading at $3.91 with a market capitalization of over $1.3 billion, making it the 52nd largest crypto. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks to the weekly price rise, RUNE\u2019s Social Dominance spiked, reflecting a rise in its popularity. However, after a major uptick on the 16th of August, RUNE\u2019s Weighted Sentiment dropped. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This suggested that bullish sentiment around the token was declining.\u00a0<\/span><\/p>\n<figure id=\"attachment_415825\" aria-describedby=\"caption-attachment-415825\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024.png\"><img decoding=\"async\" class=\"wp-image-415825 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024.png\" alt=\"RUNE's social dominance increased\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-RUNE-10.41.25-19-Aug-2024-1200x406.png 1200w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-415825\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The recent price drop might just be short-lived, however, as the token was getting ready for a massive breakout. In fact, AMBCrypto <\/span><a href=\"https:\/\/ambcrypto.com\/thorchain-price-prediction-is-rune-on-track-to-reclaim-5\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\"> earlier that RUNE might soon reach $5. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">World Of Charts, a popular crypto analyst, recently posted a <\/span><a href=\"https:\/\/x.com\/WorldOfCharts1\/status\/1824912744958877744?t=_R9uz7JL8306SVwu65zM9g&amp;s=19\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> revealing a falling wedge pattern on THORChain\u2019s chart. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The pattern emerged in November 2023, and since then RUNE\u2019s price has been consolidating inside it. At the time of writing, the token\u2019s price was on the verge of breaking out. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the tweet, in the event of a breakout, investors might witness a 200% bull rally in the coming weeks or months. The bull rally might allow the token to touch $10.\u00a0<\/span><\/p>\n<figure id=\"attachment_415826\" aria-describedby=\"caption-attachment-415826\" style=\"width: 2158px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM.png\"><img decoding=\"async\" class=\"wp-image-415826 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM.png\" alt=\"\" width=\"2158\" height=\"1158\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM.png 2158w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM-1024x549.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM-768x412.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM-1536x824.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM-2048x1099.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.44.32\u202fAM-1200x644.png 1200w\" sizes=\"(max-width: 2158px) 100vw, 2158px\" \/><\/a><figcaption id=\"caption-attachment-415826\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<h2><b>What metrics suggest\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The good news was that while THORChain\u2019s price fell in the last 24 hours, its trading volume also dropped by 32%. Such incidents often hint at trend reversal. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our look at Coinglass\u2019 data revealed that RUNE\u2019s Open Interest also declined. Generally, a drop in Open Interest also suggests that the chances of the current price trend changing are high.\u00a0<\/span><\/p>\n<figure id=\"attachment_415827\" aria-describedby=\"caption-attachment-415827\" style=\"width: 2740px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM.png\"><img decoding=\"async\" class=\"wp-image-415827 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM.png\" alt=\"RUNE's open interest dropped\" width=\"2740\" height=\"652\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM-300x71.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM-1024x244.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM-768x183.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM-1536x366.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM-2048x487.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-19-at-10.47.11\u202fAM-1200x286.png 1200w\" sizes=\"(max-width: 2740px) 100vw, 2740px\" \/><\/a><figcaption id=\"caption-attachment-415827\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"https:\/\/ambcrypto.com\/predictions\/thorchain-price-prediction\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">THORChain [RUNE] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2024-25\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">The MACD also displayed a bullish crossover. Likewise, the Chaikin Money Flow (CMF) registered an uptick, suggesting that RUNE was on its way to reclaim $5 in the coming days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the Relative Strength Index (RSI) registered a slight decline and was headed towards the neutral mark. This indicated that the ongoing price decline might continue, which could push RUNE down to $2.9.\u00a0<\/span><\/p>\n<figure id=\"attachment_415828\" aria-describedby=\"caption-attachment-415828\" style=\"width: 2710px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34.png\"><img decoding=\"async\" class=\"wp-image-415828 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34.png\" alt=\"\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/RUNEUSDT_2024-08-19_10-50-34-1200x645.png 1200w\" sizes=\"(max-width: 2710px) 100vw, 2710px\" \/><\/a><figcaption id=\"caption-attachment-415828\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>THORChain was about to break above a long-term bullish pattern that could result in a 200% price rise.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":415829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[6427],"class_list":["post-415824","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THORChain aims for $10: Can RUNE surge 200% soon? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"THORChain [RUNE] showcased remarkable performance last week with its double-digit price increase and things can get even better\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/thorchain-aims-for-10-can-rune-surge-200-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THORChain aims for $10: Can RUNE surge 200% soon? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"THORChain was about to break above a long-term bullish pattern that could result in a 200% price rise.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/thorchain-aims-for-10-can-rune-surge-200-soon\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-19T09:00:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/THORChain-ready-for-a-200-pump.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Dipayan Mitra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/DiDipayan\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dipayan Mitra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/thorchain-aims-for-10-can-rune-surge-200-soon\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/thorchain-aims-for-10-can-rune-surge-200-soon\\\/\"},\"author\":{\"name\":\"Dipayan Mitra\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/a3c1a47ad2d3e2a023516862993813cd\"},\"headline\":\"THORChain aims for $10: Can RUNE surge 200% soon?\",\"datePublished\":\"2024-08-19T09:00:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/thorchain-aims-for-10-can-rune-surge-200-soon\\\/\"},\"wordCount\":457,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/thorchain-aims-for-10-can-rune-surge-200-soon\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/THORChain-ready-for-a-200-pump.webp\",\"keywords\":[\"ambcrypto\"],\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/thorchain-aims-for-10-can-rune-surge-200-soon\\\/#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/thorchain-aims-for-10-can-rune-surge-200-soon\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/thorchain-aims-for-10-can-rune-surge-200-soon\\\/\",\"name\":\"THORChain aims for $10: Can RUNE surge 200% soon? 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