Bitcoin News Today: RUNE Trapped in $1.34-$1.41 Range Amid 5.1% Weekly Drop and $2.00 Outlook

RUNE, the native token of THORChain, is currently consolidating between $1.34 support and $1.41 resistance, indicating a period of market indecision as buyers and sellers remain cautious. At $1.36, the token reflects a 5.1% weekly decline, with traders closely watching for signs of a breakout that could lead to a potential move toward $1.90–$2.00, as suggested by Fibonacci retracement levels [1]. The descending trendline on the broader chart has constrained upside movement, with price action showing multiple rejections along this slope [1].

Analyst ali_charts notes that the current trading structure indicates a descending pattern, which could lead to extended consolidation before any meaningful upward movement. A breakout above $1.40–$1.41 would be a critical catalyst, but it is expected to require sustained testing of these levels before a shift in momentum occurs [1]. This has led to heightened attention from traders, who are waiting for RUNE to break free from its current price range and show directional clarity.

Despite its dollar-denominated decline, RUNE has demonstrated relative strength in BTC terms, gaining 2.4% against Bitcoin in the same period. This divergence highlights the token's mixed performance, with traders using BTC as a benchmark to gauge strength amid a weak dollar environment [1]. The 24-hour price range remains tight, with minimal movement between $1.34 and $1.41, reinforcing the ongoing standoff between buyers and sellers.

The path to $2.00 remains conditional on breaking through the $1.41 resistance level, which continues to serve as a key psychological and technical threshold. Should the price remain above $1.40, the chart structure suggests a gradual climb toward the $2.00 region is possible, depending on how the descending trendline resolves [1]. Traders are advised to keep a close watch on this level, as it could be the turning point for RUNE’s next directional move.

RUNE consolidates near critical price levels, and while the immediate outlook remains uncertain, technical indicators suggest that a breakout could unlock a higher target range. The token’s ability to maintain strength above $1.40 will be a key determinant in shaping its near-term trajectory.

Source: [1] THORChain (RUNE) Faces Key Test: Will $1.41 Breakout Unlock $2.00 Target? (https://cryptonewsland.com/thorchain-rune-faces-key-test-will-1-41-bre/)