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- ThorChain has recently completed its integration with Trust wallet which is one of the biggest self custodial wallet
- Technical indicators of RUNE are favoring a weak upside move. It is trading near $1.4 with a loss of 0.33%
THORChain is a decentralized protocol which allows users to easily exchange the digital assets without losing their full custody. Thorchain users can simply swap one asset for another without relying on order book to provide the liquidity. They uses a unique systems which helps them to prevent the Impermanent loss of liquidity providers. RUNE has a ROI of more than 4000% and can see an increase in the future. Thorchain has also recently completed its integration with Trust wallet. It has seen more than 90% drop from its all time high and is long away to attain it.
THORchain is currently ranked 70th in the crypto verse and has a market cap of $700 Million. Volume of RUNE has seen a decline of over 34% in the intraday session. Volume to market cap ratio of RUNE suggests a consolidated trend in price.
Is RUNE Ready To Jump For A New High?
Thorchain has been in a downside momentum for a quite while. It has fallen from a high of $21 to $1 in the past few months. The weekly technical chart of the RUNE coin price suggests a consolidated trend in price. On coming to the daily chart it is trading near $1.4 with a loss of 0.33%. The upside momentum of RUNE price can face a ceiling near $2. Meanwhile a bounceback can be expected from $1. It is trading in between the 50 and 100 DMA. If it crosses above 100 DMA then a strong upside momentum can be seen in future.
MACD: The bars of MACD indicators are suggesting a decline in bear sentiment. There can be a positive crossover in the signal line of MACD.
Conclusion
Thorchain has seen a strong fall with the downside in crypto market. RUNE coin price is currently in a consolidated trend and can see a new high in the future.
Technical Levels
Major Support:$1
Major Resistance:$2
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.
