Long

bullish

Future

Resistance

<ul class="wp-block-list">
 <li>ThorChain RUNE has broken its long-term resistance and is now targeting further significant price levels.&nbsp;&nbsp;</li>  
 <li>The token surged over 71% recently and could rise more as trading activity strengthens in the crypto market.&nbsp;&nbsp;</li>  
 <li>Key price projections suggest a move toward $9 soon and a potential long-term rally back to $21 levels.&nbsp;&nbsp;</li> 
</ul>  
<p>ThorChain’s RUNE has surged past a major resistance level, signaling a potential upward trend in the cryptocurrency market. The token rose 11% on December 3, 2024, reaching $6.732 after trading between $5.577 and $6.886 throughout the day. This breakout from a long-standing downward channel suggests that bullish momentum could continue gaining strength as traders react to the movement.</p>  
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<p>This breakout follows nearly three years of price pressure, where RUNE remained confined within a descending channel. The move above resistance coincided with higher trading volume, which indicates growing interest from investors. As a result, market participants are focusing on potential price targets that could confirm the rally and solidify a new trend.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-price-projections-point-to-nbsp-upside-nbsp-nbsp"><strong>Price Projections Point to&nbsp; Upside&nbsp;&nbsp;</strong></h2>  
<p>RUNE has already seen a 71.94% gain from its base price of $2.915, with analysts projecting further upward potential. The next key price level is expected to fall between $8.50 and $9.00, marking the nearest resistance zone. Additionally, the long-term target for RUNE is set at $21.662, which represents a massive 237.61% increase from the breakout level.</p>  
<p>These projections align with <a href="https://cryptonewsland.com/whale-movements-indicate-rising-sell-pressure-for-major-altcoins/" target="_blank" rel="noopener noreferrer nofollow">historical price movements</a> and Fibonacci extension levels, which provide a strong technical foundation for the rally. Breaking above $21 would also bring RUNE back to its all-time high, which was last seen during 2021. While this price level remains distant, the current rally shows that momentum could carry the token higher over time.</p>  
<p>However, traders are keeping a close watch on a possible retest of the breakout zone near $5.50 to $6.00. This area is expected to serve as a support level, though any failure to hold could prompt caution among investors.</p>  
<h2 class="wp-block-heading" id="h-thorchain-s-ecosystem-and-future-outlook-nbsp-nbsp"><strong>ThorChain’s Ecosystem and Future Outlook&nbsp;&nbsp;</strong></h2>  
<p>This breakout could also signal growing confidence in ThorChain’s ecosystem, which plays a critical role in decentralized finance. The token’s rise above resistance may attract additional capital to the network as investors recognize its potential. Moreover, it represents a shift in sentiment after prolonged bearish conditions that dominated for much of the past three years.</p>  
<p>Many traders see this as a turning point for RUNE and are closely watching for sustained upward movement. However, <a href="https://cryptonewsland.com/solanas-rally-gains-significant-momentum/" target="_blank" rel="noopener noreferrer nofollow">maintaining momentum</a> depends on market conditions, trading volume, and investor sentiment, which remain key factors in the coming weeks.</p> 
<p>The post <a href="https://cryptonewsland.com/thorchain-rune-jumps-71-targets-237-growth-after-breaking-long-resistance/" rel="noopener noreferrer nofollow">ThorChain RUNE Jumps 71%, Targets 237% Growth After Breaking Long Resistance&nbsp;</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

ThorChain RUNE Jumps 71%, Targets 237% Growth After Breaking Long Resistance

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