The closely followed experienced crypto analyst and trader Kaleo expects the surge in THORchain (RUNE), which has increased its value by more than four times in the last two months, to continue. The analyst also predicts that the largest cryptocurrency, Bitcoin (BTC), will rise above $48,000 at the beginning of next year.
Kaleo Believes RUNE Could Refresh Its Record Very Soon
The crypto analyst and trader, who goes by the name Kaleo, stated from his personal X (formerly known as Twitter) account that if THORchain’s RUNE breaks above the falling trend line on the daily chart, which acts as a high time frame resistance level, the decentralized cross-chain liquidity protocol could easily reach its all-time highs.
While making a bullish comment for RUNE, he said, “I have taken a position in RUNE by buying the dip. If there’s one thing I’ve learned over the past few months, it’s to catch the momentum. I think we can easily refresh the record if we manage to break above the high time frame resistance.”
Currently the 49th largest altcoin by market value, RUNE is trading at $5.40, up about 231% from its lowest level of $1.63 reached on October 21 during the writing of this article. The record for the decentralized cross-chain liquidity protocol was broken in May 2021 with $21.28.
Kaleo also noted that the THORchain/Bitcoin (RUNE/BTC) trading pair surpassed the high time frame resistance level on the daily chart last month, which triggered the start of the current rally:
RUNE really started to run at the beginning of November when it broke above the resistance in front of it on the BTC trading pair’s high time frame. I don’t want to miss an INJ-type run opportunity, a name I’ve been familiar with for years, but mostly I watch from the sidelines while pressing.
Kaleo Expects Bitcoin’s Price to Exceed $48,000
Following THORchain, Kaleo commented on Bitcoin, saying that the largest cryptocurrency appears to be repeating the price pattern it formed in 2020 and 2021 on the four-hour time frame price chart. Looking at the price chart shared by the analyst, it is seen that he expects BTC to rise above $48,000 at the beginning of next year.
Bitcoin has changed hands at $43,717, down 0.28% in the last 24 hours. Data shows that the crypto king has risen by 2.21% in the last 7 days and by 19.43% in the last 30 days.
