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ThecoinrepublicCryptocurrencyTHORChain Price Prediction: Will RUNE Price Hit...
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THORChain Price Prediction: Will RUNE Price Hit the $4 Mark Soon?

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THORChain is a decentralized liquidity protocol which helps users to easily exchange cryptocurrency assets across a range of networks. The protocol facilitates swaps between Bitcoin, Ethereum, Bitcoin Cash and several other chains. It was designed to minimize trust and become a scalable cross chain communication and settlement layer. The user can easily swap one asset for another without relying on the orderbook. Meanwhile, swappers always remain in control of their funds during the transfer.

THORChain also helps to mitigate the Impermanent losses which a liquidity provider faces. The TVL of the protocol is near $176.9 Million with a total liquidity of $97 Million. The protocol has a total of 84 validators with a $79 Million validators bond. The total pool earnings of the THORChain is around $15.6 Million. As per blockchain expert MistTrack, the hackers which attacked Atomic wallet used THORChain to conceal their ill gains.

THORChain has a market cap of $332 Million and is ranked 95th on CMC. The volume of the asset price has seen a surge of 34% in the intraday session. Volume to market cap ratio of RUNE suggests a weak upward trend in price.

Are the Bulls Ready to Take Off With RUNE?

THORChain Price Prediction: Will RUNE Price Hit the $4 Mark Soon?
Source; RUNE/USD By Trading View

Thorchain token price has been moving in a consolidated momentum in the weekly technical chart. On the daily chart, RUNE has been moving in a weak recovery mode. It is currently trading at approximately $0.999 with a gain of 6% in the intraday session. The upside trend of RUNE can see a halt near the value of $1.2. Meanwhile, the support of the asset price can be observed near $0.8. The asset price is trading just above the 20 EMA and below the 100 EMA. If the price surges above the 100 EMA, then a strong upside trend in the future can be seen.

The RSI of RUNE is near 52 with a small positive slope in it. The overall sentiment of the RSI is weakly bullish.

Summary

ThorChain has been observing no significant deviation in the TVL. RUNE token is currently in a consolidated trend and can see a new high in the future.

Technical Levels

Major Support:$0.8

Major Resistance:$1.2

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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