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Is It Too Late to Buy THORChain? RUNE Price Blasts Up 60% and LPX Token Can Find the Next Crypto to Explode

Sam Cooling
Last updated: | 3 min read
Source / Sam Cooling x FelixMittermeier

In a magnificent display, leading decentralized liquidity and trading protocol THORhain (RUNE) has blasted up a shocking +60% – yet, as traders race to get in on the action, many are asking is it too late to buy THORChain?

The pump comes amid a favourable time in THORchain tokenomics, with large swathes of supply currently in circulation and the slow onset of deflationary dynamics afoot.

This is because THORChain uses native RUNE token as over-collateralization for each of its liqudiity pools, meaning that the bigger its pools become, the more RUNE has to be locked up – reducing supply and inducing upside moves.

<oembed url="https://twitter.com/THORmaximalist/status/1691596581198553383[/embed]

RUNE Price Analysis: Is it too late to buy THORchain?

In the midst of the emerging rally, RUNE is currently trading high at a current price of $0.37 (representing a 24-hour change of +5%).

TradingView / RUNE USDT

This comes following months of rock-bottom price action for RUNE, which has struggled since a short lived +420% rally back at the start of 2023.

Bag holders are rejoicing after 3-months of tight fought testing of the 20DMA around $0.10 finally gave footing to the impressive breakout move.

Triggered on August 9, THORchain pumped 994% across 6-days, before a -57% retracement brought RUNE down to current consolidation price levels.

THORchain’s indicators are now providing some cause for concern with the RSI overheating to an extreme degree amid the sensational rally, with the indicator topping out at 95 on August 12.

This severe overbought signal can only imply downside price action, and with the major retracement done – consolidation seems to be on the cards for RUNE on the short-time frame with the RSI still showing bearish divergence at 83.

On the flipside, the MACD continues to reflect the alluring upside momentum, displaying a solid bullish signal at 0.028992.

TradingView / RUNE USDT

Overall, despite the huge movement, it may well be too late to buy RUNE on the short-time frame with upside potential limited to a higher local price level at $0.475 (+26.7%).

However, downside potential is significant following the breakout price move, with a downside slide likely to find the first opportunity for support at $0.25 (-31%).

This leaves THORchain with a tough risk: reward profile of 0.84 – a bad entry that suggests traders should anticipate retracement and consolidation until the RSI is below 60.

Yet, smart money have already began to rotate RUNE gains into the next emerging plays, and one analytical insight tool making waves in a market fuelled with Telegram Bots and Signals Groups is Launchpad XYZ.

Launchpad XYZ: Market Beating Analytical Insights Fuels +$1.3M Presale Explosion

Source / Launchpad XYZ

Introducing Launchpad XYZ (LPX), an innovative ecosystem designed to lower the entry barrier to Web 3.0 with user-friendly tools, insights, and analytics.

Whether you’re a seasoned crypto user or just starting, this platform offers a range of features, such as NFT discovery, a decentralized exchange (DEX), a Web3 wallet, and utility token analysis.

At the heart of the Launchpad XYZ ecosystem lies the $LPX token – holders who stake a minimum of 10,000 tokens can reap numerous benefits, including substantial fee discounts, exclusive early access to NFT mint whitelists and presales, beta play-to-earn game launches, as well as cool community prestige badges.

The platform’s intention to list LPX on major cryptocurrency exchanges is expected to drive significant demand for the token.

<oembed url="https://twitter.com/launchpadlpx/status/1691494977048653853[/embed]

Following the introduction of its primary features in Q3 2023, Launchpad XYZ anticipates a substantial user adoption.

With its maximum token supply of 1 billion, $LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it a platform to watch in the rapidly evolving crypto industry.

Given its comprehensive suite of features and ambitious vision, Launchpad XYZ is set to break barriers and redefine the crypto space.

As it facilitates an inclusive Web3 ecosystem, the $LPX token is proving itself a promising opportunity for investors. Whether you’re new to the crypto world or a seasoned investor, Launchpad XYZ is one platform you can’t afford to overlook in 2023.

Explore the latest Web3 presale projects, P2E Hub for gaming, the Metaverse Experience Library, and the Trading Terminal for an immersive experience.

Future developments include a marketplace for fractionalized assets, a Trading Edge Game, and creator tools for brands.

Don’t miss out on the opportunity to invest in Launchpad XYZ, a promising project with the potential for significant growth. 

For more information, visit Launchpad XYZ today, also stay tuned with the project Twitter and Telegram to receive all of the latest updates and team news.

Buy LPX Here

.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.