THORChain: Reasons RUNE may be an ideal portfolio addition this quarter

ambcrypto.com:

THORChain’s native cryptocurrency RUNE concluded a retest of its June lows and even set a new 2022 low. Its recovery attempts may provide one of the best opportunities especially for the next major bull run and here’s why.

Here’s AMBCrypto’s price prediction for RUNE for 2022-2023

THORChain noted in one of its latest updates that its vaults were entirely on-chain. In addition, the post also bragged about its inability to block access, also known as immutability. This came amid increased concerns around its censorship.

— THORChain (@THORChain) October 17, 2022

Many crypto platforms have been called out for claiming to be immutable and censorship resistance. Yet every once in a while, something happens in the market and the same platforms act in a manner not-consistent with immutability. If THORChain’s claim happens to be true, then it puts the blockchain at an advantage especially when mass migration to DeFi starts taking place.

THORChain’s RUNE would enjoy healthy long term growth if censorship pushes people to favor DeFi. The cryptocurrency was heavily drawn down from its ATH in 2022. In fact, it just achieved a new 2022 low on 13 October.

Furthermore, RUNE traded at $1.53 as of 18 October, a 12% uptick after bouncing from its $1.368 new 2022 low.

Source: TradingView

RUNE’s latest bounce occurred within the same support line where it bounced from in June. This meant there was a considerable chance that it might achieve a sizable relief rally. The previous bounce saw the token deliver a 70% rally within the first seven days after bottoming out