A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a blue-chip altcoin that has more than tripled in value in two months.
The analyst pseudonymously known as Kaleo tells his 611,900 followers on the X social media platform that if THORchain (RUNE) rises above the descending trendline on the daily chart that is currently acting as a high time-frame resistance level, he could “easily see” the decentralized cross-chain liquidity protocol “making a run to new all-time highs”.
“Bought the dip & started a position on RUNE.
If there’s anything I’ve learned over the past several months – it’s don’t fade momentum.
If this manages to break above HTF (high timeframe) resistance, I could easily see it making a run to new ATHs (all-time highs).”
Source: Kaleo/X
THORchain, which is currently the 50th-largest crypto asset by market cap, is trading at $5.40 at time of writing, up by around 231% from the low of $1.63 recorded on October 21st
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