THORChain price (RUNE) experienced broke out of a channel and retested the trendline support zone of $4. Since the beginning of August, the token has been accumulating, soaring more than 55%.
After rising above the 20 and 50-day EMA marks, RUNE is primed for a launch in the form of a bullish reversal. It escaped the declining trendline barrier of $4, trapping sellers.
As buyers are gaining traction, throughout last week, THORChain price remained above the 20 day EMA mark and displayed signs of strength. It has seen a major price increase during the past few trading sessions; its year to date (YTD) is 156%, indicating long term bullish energy.
RUNE Shows Bullish Cues, Rally Imminent?
At press time, THORChain traded at $4.14 with an intraday rise of over 1.90%. An over 190% surge in its trading volume was spotted during the intraday session. As of now, the buying interest is solid.
With a market cap of $1.24 Billion, the token ranks 53rd on CoinMarketCap (in terms of market
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