RUNE tested the upper boundary of its falling wedge signaling a possible breakout toward $3.12.
Pattern shows steady accumulation around $0.80,pointing to continued buyer interest amid short-term volatility.
THORChain burned 1.1 million RUNE to reduce circulating supply and support deflationary pressure within the ecosystem.
Steady buying and token burns are pointing to growing market interest and upward momentum ahead.RUNE is showing breakout potential as its falling wedge nears $0.85.
Falling Wedge Pattern Signals Possible Upside
The RUNE/USDT chart on a 2-day timeframe displays a classic falling wedge structure. The pattern is characterized by lower highs and lower lows, with the lower trendline showing a gentler slope than the upper trendline
This indicates weakening selling pressure, which often precedes a price reversal.RUNE is testing the upper boundary near $0.85–$0.90 and a close above this trendline could confirm bullish continuation and drive the price toward $3.12
This would represent an upside move of approximately 252% from current levels.
Source: Clifton FX Via X
Volume will play a key role in validating any breakout. A failure to sustain momentum could see RUNE retest support near $0.70–$0.65
Daily Price Action Reflects Accumulation
RUNE’s 24-hour price chart shows a controlled trading range between $0.78 and $0.86. The coin initially stabilized around $0.80 before it pushed it toward $0.86.
This surge likely reflected sudden buying interest from market participants. The market showed resilience despite brief profit-taking, maintaining overall stability.
Source: CoinGecko
The pattern represents speculative activity within a consolidation phase, often preceding a larger price move. Observers note that maintaining support above $0.80 is critical for potential bullish momentum.Consistent trading volume shows ongoing market participation
RUNE Burn Data Shows Deflationary Trends
THORChain’s RUNE burn report shows that daily token burns fluctuated from November 1 to November 8, with spikes exceeding 1,200 RUNE on certain days. This demonstrates continued network usage and transaction activity.
In the last 24 hours, 1,484.5 RUNE were burned, with 20.1K RUNE removed over the past week. Cumulative burns now total 1.1 million RUNE. A 5% income burn rate ensures a portion of protocol income is permanently removed, linking network activity to supply reduction.
Projections estimate roughly 1 million RUNE burned annually, suggesting ongoing scarcity if transaction levels remain stable. The continuous reduction of circulating supply may support price stability while reflecting active utilization across THORChain services.
The post Falling Wedge and Rising Token Burns Are Signaling Bullish Trend For RUNE appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bit Digital CEO: Ethereum has stabilized in the $1800–$2100 range, and the recent pullback is more like a "value reset"
Bit Digital CEO Sam Tabar stated that recent Ethereum market conditions resemble a "value reset," with market leverage rapidly re-evaluating after a significant increase, leading to increased volatility. Currently, the price remains stable in the $1800 to $2100 range, with fundamentals unchanged. This event demonstrates how leverage can distort the market, but Ethereum's long-term value remains solid.
GateNews3m ago
Crypto and Finance Experts Draw Attention to Business Cycle, Expect Explosive Crypto Price Action
Crypto and finance experts draw attention to business cycle.
Experts expect explosive crypto price action soon.
The price of BTC could dip further, but long-term looks highly bullish.
The current state of the crypto market seems to be heading towards a bullish setup. Over the last few m
CryptoNewsLand39m ago
BTC short-term decline of 0.76%: key price levels encountering resistance and long leverage liquidations triggering market sell-off
On March 5, 2026, from 14:30 to 14:45 (UTC), Bitcoin (BTC) experienced a short-term decline, with a return of -0.76%. The price ranged between 71,958.3 and 72,830.0 USDT, with an amplitude of 1.20%. Market attention significantly increased, and during the event window, trading volume expanded, volatility intensified, and price anomalies attracted many investors' focus on short-term risks and future trends.
The main driver of this anomaly was BTC encountering resistance in the key price zone of $73,750–$74,400. Historical data shows that this zone has repeatedly acted as a...
GateNews49m ago
Bitcoin: Real-Time Sentiment Gauge for Weekend Warmongering
The article analyzes Bitcoin's real-time sentiment as a gauge during weekend market fluctuations, emphasizing its role in reflecting broader economic trends and investor behavior in the crypto landscape.
CryptoBreaking50m ago
Ripple CTO Emeritus Shares Candid Truth about XRP and Crypto Market - U.Today
David Schwartz, former Ripple CTO, expressed mixed feelings about XRP's performance, reflecting broader crypto market sentiment. Despite recent struggles for altcoins, XRP showed signs of a potential recovery with a newly formed "golden cross" on its price chart, although market conditions remain cautious.
UToday1h ago
When the Asia-Pacific stock markets hit the circuit breaker, why does Bitcoin stand out as the best?
Author: Jae, PANews
On March 4th, as the situation in the Middle East suddenly worsened, global financial markets instantly entered a "wartime state." For global investors, this was a trading day worthy of being recorded in history.
Disruption of shipping through the Strait of Hormuz, a critical energy choke point, triggered a sharp surge in international oil prices. Panic quickly swept through traditional capital markets, and Asia-Pacific stock markets experienced an epic sell-off.
KOSPI in South Korea plummeted 12% in a single day, marking the largest decline in history; the Nikkei 225 dropped 3.7%, its worst performance in five months; Middle Eastern local stock markets once tumbled nearly 5% amid a correction; major European and American stock indices closed lower across the board.
However, an unusual phenomenon quietly emerged amid this sell-off.
The crypto market, often regarded as "high risk, high volatility," which tends to be the first asset class to collapse during any geopolitical crisis, surprisingly held steady this time.
Bitcoin experienced a brief panic
区块客1h ago
