The post Analyst Kaleo’s Bold Forecasts: RUNE Surges for New Highs, Bitcoin Targets $48,000 appeared first on Coinpedia Fintech News
In a bullish outlook, esteemed crypto analyst and trader Kaleo anticipates the ongoing surge of THORChain (RUNE), a decentralized cross-chain liquidity protocol that has witnessed a 230% increase in value over the past two months.
Additionally, Kaleo predicts that Bitcoin (BTC), the largest cryptocurrency, is poised to surpass the $48,000 mark at the onset of the upcoming year.
RUNE’s Record-Breaking Move
Kaleo, renowned for his insightful crypto analyses, took to X to express optimism about THORChain’s RUNE. Noting that if RUNE manages to break above the falling trend line on the daily chart, serving as a crucial high timeframe resistance level, Kaleo believes the decentralized protocol could effortlessly reach and potentially surpass its previous 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 resistance, I could easily see it making a run to new ATHs.Long it w/ me here https://t.co/32dHnZIFxS pic.twitter.com/T8K7s70gQP
— K A L E O (@CryptoKaleo) December 20, 2023
Asserting his bullish stance on RUNE, Kaleo remarked, “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.”
As of now, ranked as the 49th largest altcoin by market value, RUNE is currently trading at $5.40, marking an impressive 231% increase from its recent low of $1.63 recorded on October 21. Notably, the decentralized cross-chain liquidity protocol’s previous record was set in May 2021 at $21.28.
RUNE Over BTC
Highlighting the technical aspect, Kaleo notes the successful overcoming of high-time-frame resistance on the THORChain/Bitcoin (RUNE/BTC) pair’s daily chart last month, aligning with the commencement of the current rally. RUNE already broke above HTF resistance on the BTC pair at the beginning of November when it started to run.
Bitcoin To Hit $48,000
After addressing THORChain’s prospects, Kaleo shifts his attention to Bitcoin, observing a price pattern reminiscent of the cryptocurrency’s behavior in 2020 and 2021 on the four-hour timeframe price chart. The analyst’s chart analysis indicates an expectation for BTC to surpass the $48,000 threshold in the early months of the upcoming year.
Bitcoin is currently priced at $43,717, displaying a marginal 0.28% decrease in the last 24 hours. Over the past 7 days, BTC has witnessed a rise of 2.21%, and in the last 30 days, it has surged by an impressive 19.43%.
In simpler terms, Kaleo believes RUNE and Bitcoin are gearing up for exciting journeys in the crypto world.
