Analyst Lavina Daryanani details her 2-fold price expectations in the altcoin project THORChain (RUNE), which she follows closely.
RUNE price analysis
RUNE experienced a massive surge in price in the second half of October, gaining more than 140% between October 19 and November 2. It started easing on the downside just after $17.27 broke its local top. For most of November, RUNE’s price remained within its descending channel. Still, the altcoin is starting to show signs of a trend reversal on November 23, according to analyst Lavina Daryanani. Interestingly, RUNE managed to break above the descending channel the very next day and continued to erode the $13.5 mark earlier today.
What levels can be expected in altcoin price?
The uptrend over the past few hours has been largely momentum driven. RUNE’s trading volume spends more time on the upside compared to the beginning of October. Therefore, RUNE needs to navigate its current levels of centered trades for the uptrend to continue.
In parallel, RUNE’s clear interest in the futures market is also on the rise. With the new money entering the ecosystem, it can be said that market participants are quite confident about the future of this altcoin project. Also, the funding rate on most exchanges remained positive, at 0% at the time of writing. 01 to 0%. Returned to 05 range. According to the analyst, this indicates a larger bullish sentiment.
Lavina Daryanani, whose analysis we share as , does not determine a definite direction, but finds the upward trend higher. RUNE is no stranger to choppy movements and has witnessed another one before in October. While it is similar to this period in current metrics, it has fundamental analyzes to support the rise. As far as the founders and developers of the network are concerned, the roadmaps for the next few weeks look pretty promising. So, keeping the aforementioned trends in mind, any level around the current $11 could be considered for both medium and long-term entry. Daryanani’s price expectation is the $22 region, which coincides with a 100% price increase.