THORchain (RUNE) Price Analysis: No ‘New Low’ Expected; BONK Meme Coin May Resume 2x Rally Next Week
ThorTrades, with more than 15,000 followers on X, says that the price of Thorchain (Runes) could correct further, but the analyst does not see any reason for a new low.
The analyst points to where he thinks the price is headed next. His analysis shows that he is expecting a price rally to the red box in Q4 2024. This would represent a rally from around $4.2 to $7.
Read Also: Here’s When Will Bitcoin Price Peak in 2025: Expert
However, the analyst’s chart shows that a break below the support at $4 could see a dip to below $3.
Deczler, in a post about THORchain’s RUNE, pointed to a confirmed support at $3. The technical analyst sees a price spike to around $6.4 if there is significant buy volume.
There is also another condition for such price ascension: the price of BTC must stay bullish. In this case, the analyst says the price could reach the target earlier than anticipated.
BONK Meme Coin Price Could Break Out Next Week
Market Spotter, an account with more than 40,000 followers on X, noted that the BONK meme coin could break out next week.
This analysis is based on an anticipated breakout from a triangle pattern on the weekly time frame.
The triangle is getting very tight, and the analyst thinks next week could be a good time for a breakout. If this happens, the analyst anticipates a 2x price spike for the meme coin.
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