When I looked at the RUNE chart the other day I expected a pullback, it had just become overbought. Didn't mean we would see a pullback but I felt it was likely.
You can see on the chart profit taking has taken place the past few days.
The question really is - where is the first support level where buyers step back in?
Rune Run...
I was hoping it would be that last little top we saw at 13.80 but price is currently below that.
The $12 area looks pretty office and I drew a trendline there as my estimate on where the next clear support is.
That level was a prior resistance with price hitting off it twice and then acting as a support on the reversal candle that begin the last push higher.
Ideally price never gets down to that level, but if so then it needs to hold otherwise the latest move higher was for naught.
On the flipside, the high it just made around $17 a few days ago is the only point in between RUNE and the all time high so things could change real quick if buyers step back in to scoop up this pullback.
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Overall RUNE is a hell of a performer. Can't believe I knew about it since it was $0.66 and have never bought any. I can't believe I'm four years in crypto and still so dumb :D
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You're not the only one, lol. Bought first time at $12. To be fair, the risk is now much lower, since during sub dollar valuation Thorchain was just a concept, now there is a working product.
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If it goes to a few hundred dollars then you've made a good investment.
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Dude! I started casually studying Bitcoin in 2013. Didn't buy nothing until 2017, but I went ALL in. I was a crypto "expert" compared to most people from 2017 until 2019. I had at least a vague idea of what was going on with every project in 2018. Then I kinda backed off, got busy with my day job, and I totally missed the DeFi and NFT booms. Completely missed Solana. F my life man!
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Chill. You're probably not the only one in this position 😁
Is that the Crypto N Culture guy?
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No idea, i search for Good deal gif :)
RUNE is to HODL for long, while some quick profits can be taken from this volatility. Traders that know their business can make a big buck with RUNE, sell and buy and repeat...
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Yep, I use the pullbacks to buy more so welcome them. I'm holding RUNE till 100
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im pissed i just found this group.. glad to be here though. The deterministic value of RUNE is crazy. Where do you see RUNE going if people start leaving current DEFI projects.
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I think some of its value might be drifting towards $THOR - maybe in the same way the LEO price has dipped while CUB has gone up.
I'm sure these new magic money tokens just end up diluting down the mother token - just about the only project I'm involved in where that hasn't happened is with Splinterlands.
And that offers a lot more than just 'Hey, more pooling options', which is getting a bit tired now IMO.
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That is some good points right there! How many pools/farms do we really need?
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It always seems to boil down to demand. Nothing drives up prices like out of control demand. Imagine if we could predict demand :-)
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Let's just keep creating demand for LEO and CUB :-)
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👍🏻
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I finally bought into RUNE around $14. I was happy about a day later when it pumped to $17. Then sad a day or two after that when it crashed. It's all good though. I fully believe Thorchain will rule the cryptoverse someday, and I'm in this for the long haul. There are Bitcoin maxis, I'm a Rune maxi. If it's not Rune, it's a shitcoin!
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According to the chart, Rune coin has not break the higher high once it break the high, that's when we will expect bull market but for now it will still selling.
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