Can RUNE Sustain Its 20% Rally?, Why This Analyst Doubts It

THORChain (RUNE) has seen an important rally in the past month. The native token of this decentralized cross-chain bridge rose from its 2022 low at around $3 with 30% intra-day rallies to its current levels. Related Reading | THORChain Activates Feature, 30% Spike Follows, Can Bulls Sustain It? At the time of writing, RUNE’s price trades at $9 with an 11% profit in the past 24-hours and a 17% profit in the past week. According to analyst Alerzio from research firm Santiment, RUNE’s current rally has traders wondering if the token will be able to sustain its gains. The cryptocurrency could revisit its lows if the bulls are unable to push past the $10 in the short term or if the crypto market takes another bearish turn. The analyst believes that RUNE’s current rally has been “healthy”. As the price move upwards, the token’s trading volume followed standing at its highest since April 2021. In addition, the Weighted Sentiment, a metric used to measure market sentiment across social media platforms, suggests more gains. This metric stands in the negative as the token claims into its current levels which is a bullish sign. In the crypto markets, operators believe that prices tend to move opposite to the crowd’s expectations. Therefore, a negative sentiment suggests more gains for RUNE. The analyst said that “the greed is out” of the market, for the time being. In addition, the futures market seems to support the bulls as fundin...