Each RUNE Pullback Becomes Shorter Lived

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(Edited)

The price of rune has been quite the bullish ride. I have posted about it several times over the past month.

My last post begged the question if we were seeing a buyable pullback. What is funny is that post was 5 or so days ago on what is now the prior little pullback before price soared above 16.

An even quicker pullback this time...

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And up she goes...

Yesterday saw a hardcore reversal candle followed by today's candle pushing higher. The reversal candle pulled back nearly to the 10 day moving average but didn't even touch it as the bull rages on.

The buy on pullbacks play is getting more and more difficult on RUNE. There is still plenty of catalyst for demand as thorswap only went live a few days ago, but at some point there will be a break in the action. Problem is, who knows where that will be.

I have my small bag still, but did enter a trade position at 14.90 after missing the intraday dip on yesterday's candle.

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There is still plenty of catalyst for demand as thorswap only went live a few days ago, but at some point there will be a break in the action

When you say break in action, do you mean like a mini dip? According to the little experience ive had, people have been burnt by expecting Rune dips......the most recent one was when the mccn went live, people thought it was going to be a "sell the news kinda situation", but the price kept going up.

I feel Thorchain is more important than Uniswap, tech wise, utility wise, incentive wise, and all. So nothing should stop it from moving up to a 3 figure token in a relatively short term. Thorchain is quite a big deal and is extremely undervalued. These prices, all the way to 20$ is a dip in my opinion.
Cheers

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Yes, I agree that thorchain is huge and rune should see triple digit prices at some point. I guess what I mean is at some point we won't see a higher high and higher low consecutively like we have been seeing. Which would not be the end of the world, price consolidation is healthy.

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I remember a month ago when we expected a pullback to 7.7, my colleague, it never went down hahaha. The truth is that it has no intentions to correct, the upside is very powerful, the fundamentals give it a lot of strength. The same is happening with BNB and XRP, the fundamentals are doing their job and the technical analysis is left aside.

Recuerdo hace un mes cuando esperábamos un retroceso a 7.7 colega, nunca bajó jajaja. La verdad no se le ven intenciones de corregir, el alza es muy poderosa, las fundamentales le dan mucha fuerza. Lo mismo está pasando con BNB y XRP, las fundamentales están haciendo su trabajo y el analisis técnico se queda corto.

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