$RUNE rallies after THORChain upgrade — can $0.65 become support?
THORChain’s v3.20 upgrade went live on August 26, bringing a major new feature to the network. Users can now swap privacy-focused coins like Monero (XMR) and Zcash (ZEC) directly into Bitcoin, Ethereum, and stablecoins.
This could attract more users and increase THORChain’s trading activity. The upgrade also arrives after the network suffered a $10 million-plus exploit earlier this year, making the renewed activity especially important.
The upgrade helped improve sentiment around RUNE, while stronger buying pressure pushed the token higher. At the same time, many traders betting on a price decline were caught off guard. CoinGlass data showed RUNE short liquidations were roughly 10 times larger than long liquidations, adding extra fuel to the rally.
Now, $0.65 is the key level.
RUNE has improved above its 200-day EMA, suggesting stronger long-term momentum. However, $0.65 remains an important resistance because it was the previous lower high.
CVD data showed around 1.78 million RUNE bought on Binance, while sentiment reached 80.
If RUNE breaks $0.65 and holds it as support, the recovery could continue. But another rejection may trigger a pullback.
#rune
THORChain’s v3.20 upgrade went live on August 26, bringing a major new feature to the network. Users can now swap privacy-focused coins like Monero (XMR) and Zcash (ZEC) directly into Bitcoin, Ethereum, and stablecoins.
This could attract more users and increase THORChain’s trading activity. The upgrade also arrives after the network suffered a $10 million-plus exploit earlier this year, making the renewed activity especially important.
The upgrade helped improve sentiment around RUNE, while stronger buying pressure pushed the token higher. At the same time, many traders betting on a price decline were caught off guard. CoinGlass data showed RUNE short liquidations were roughly 10 times larger than long liquidations, adding extra fuel to the rally.
Now, $0.65 is the key level.
RUNE has improved above its 200-day EMA, suggesting stronger long-term momentum. However, $0.65 remains an important resistance because it was the previous lower high.
CVD data showed around 1.78 million RUNE bought on Binance, while sentiment reached 80.
If RUNE breaks $0.65 and holds it as support, the recovery could continue. But another rejection may trigger a pullback.
#rune
