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THORChain (RUNE) has been in the red area since May
- THORChain (RUNE) showing a high degree of Volatility
- However, the Volatility seems to be declining
- Decrease in Volatility also hints of a period of stability in prices
In recent times THORChain (RUNE) values had started surging. However, it could not sustain the momentum, and the crypto token fell into bearish pressure in the market. While going to press THORChain, values stood at $5.54. The price tanked by 5% in the past twenty-four hours, while trading volumes have increased by 10%. As a result, the cryptocurrency did not have a good week, and the weekly performance of the cryptocurrency fell by more than 25%.
Unraveling the THORChain (RUNE) performance
There are no two opinions that the market sentiments for crypto coins are bearish. Taking into account the twenty-four technical indicators, fifteen are pointing towards a bearish trend. In comparison, eight indicators point to a neutral position while only three indicators give out a bullish signal.
THORChain (RUNE) has been in the red zone since May. The crypto coin has been moving to and fro with a high degree of Volatility. However, the Volatility seems to be declining. At present, the RUNE coin is horizontal, and minor resistance and support levels are seen at the boundaries. It will be crucial to see the upcoming price action of the cryptocurrency, and it will decide the future of the digital asset. Technical indicators point to the continuation of the bearish trend in the market.
However, the decrease in Volatility also hints at a period of stability in prices in the bearish trend.
What is THORChain (RUNE)?
THORChain runs on the blockchain of Cosmos and is also christened as ‘the internet of blockchain.’ THORChain (RUNE) attempts to facilitate cross-trading of different assets, thereby unlocking liquidity in the market. The modus operandi is akin to crypto exchanges where one asset can be exchanged for another with a rider; the transactions are done in a completely decentralized manner. THORChain also has a decentralized exchange by the same name. Thus, THORChain (RUNE) can be designated as the stepping stone towards the complete decentralization of the crypto space.
THORChain (RUNE-USD) Cryptocurrency is red and has lost 37.99% in the last 14 days. At 21:15 EST on Sunday, 18 July, THORChain (RUNE-USD) is at $3.8800.
Volume
The last reported volume for THORChain is 46530825, 57.98% below its average volume of 110723617.37.
All-Time High and Low
THORChain’s current value is at $3.88, 80.95%. It is below its all-time high of $20.87 on Wednesday, 19 May.
Market Cap and Supply
THORChain’s current market cap is at 1115606084. The total supply is 500,000,000.00, the maximum supply is 500,000,000.00, and the circulating collection is 271,745,632.54.
Social Status
Currently, THORChain (RUNE-USD) has 2709 Twitter followers and 5984 Reddit subscribers.
Volatility
THORChain’s Volatility last week was negative 3.55%, last month’s Volatility was negative 0.57%, and last quarter’s current Volatility was 8.93%.
THORChain’s present Volatility, a measure of how volatile a financial asset is (variation between the lowest and highest value in a period), was 5.20% last week, 8.70% previous month and 8.93% during the last quarter.
Crypto Price Classification
According to the stochastic oscillator, a helpful indicator of overbought and oversold conditions, THORChain’s crypto is considered to be overbought (>=80).
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
