The cryptocurrency market remains calm over the weekend. After leading crypto Bitcoin rose above $26,000, its momentum slowed. The market generally follows it. However, 2 altcoins separated from the market and started their run. Analysts say there may be more to come.
Worldcoin rose strongly, what is driving this bull run?
Over the weekend, Bitcoin (BTC) has been leading an indecisive trend that is currently affecting most altcoins. This is causing a mixed reaction from the market. This downward trend has affected most cryptocurrencies. However, Worldcoin (WLD) in particular follows a completely different course throughout the market. The altcoin increased by 36.93% during the day, reaching $1.54. However, the WLD price later experienced a slight pullback. The token is still changing hands at $1.49 at press time, up about 13% on a daily basis.
Worldcoin’s resurgence comes at a time when there is a striking lack of groundwork for the biometrics protocol founded by OpenAI co-founder Sam Altman. In a rare occurrence, the Worldcoin token experienced a massive accumulation overnight. During this period, altcoin transaction volume increased by 356% to $424.6 million. Despite the controversy surrounding Worldcoin, the token achieves a goal of its own. Sam Altman’s visibility and the reward associated with signing up to be scanned by the protocol’s Orb are some of the factors currently fueling a positive run in Worldcoin’s resurgence.
MetaMask announcement sparked this altcoin price!
cryptokoin.comAs you follow from , MetaMask has added support for THORChain (RUNE). Its integration with THORChain could potentially revolutionize the protocol. This is because it provides a new opportunity for MetaMask users to participate in self-custodial exchanges. Cryptocurrency ambassador Joel Valenzuela also announced the development with joy.
The announcement appears to have further boosted the previous bullish trend of THORChain’s native cryptocurrency RUNE. This suggests that bullish investors are gaining increased confidence due to Thorchain’s newfound accessibility through Metamask. Accordingly, the altcoin price has increased by more than 9% in the last 24 hours. As a result, RUNE was trading at $1.91 at press time. That was just below its daily high of $1.92.
RUNE technical analysis: Continued rise is possible for altcoin
Crypto analyst Danielle du Toit evaluates RUNE’s technical outlook. Meanwhile, RUNE’s 24-hour trading volume stood at $113,964,160. This means an increase of more than 48% compared to the previous day. The altcoin managed to strengthen by approximately 9.21% against the market leader Bitcoin (BTC) in the last trading day. The positive news surrounding RUNE and MetaMask has also positively impacted the token’s performance over the past seven days. During this period, it increased by 19.95%. Meanwhile, the market cap of $636,588,998 means RUNE is ranked as the 52nd largest cryptocurrency.
Technically, RUNE’s price has been trading in a consolidation channel between $1,345 and $2,050 for the last 2 weeks. However, at press time, the altcoin is trying to break above this channel. If RUNE closes its daily candle above $2,050, it is possible that it will continue to rise to $3,010.
However, if RUNE is rejected from this price point, the price could decline to the bottom of the channel at $1,345. Investors and traders will want to note that the daily MACD line has crossed below the MACD Signal line in the last 48 hours. This is a key bullish technical flag indicating that RUNE’s trend has recently reversed from bearish to bullish.
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