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- 1 The THORChain crypto’s price took support and increased by 29.06% over the last month.
- 2 The price of the RUNE crypto is trading at $1.470 and the 52-week range is $0.777 – $1.980.
THORChain features RUNE as one of the cryptocurrencies with a high chance of growing. THORChain is a decentralized liquidity protocol that lets users swap assets across different blockchains without giving up their funds. Also, some of the benefits and challenges of THORChain, such as its unique design, security features, scalability issues, and governance model.
THORChain crypto plummeted by 4.74% in market value and surged by 14.60% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $499,826,036 and its trading volume is $28,126,838. There are 338,549,861 RUNE in circulation.
RUNE crypto price has been surging for the last three months by 73.76%, gaining its value and creating higher highs and lows and ascending.
RUNE crypto price is under a good buying influence and was rising every day and reached a high of $1.980 by August 19th. Now the bulls and bears are showing good strength on both sides and the price ended up making a narrow range, eventually leading to the formation of a symmetrical pattern which is a 50-50 pattern. It can give a breakout as well as a breakdown.
RUNE crypto price may continue to fall if it gives a breakdown and reaches or breaks the support levels of $1.385 and $1.302 if it does not hold the current level and drops more.
On the contrary, if the price stays at the CMP level and breaks above the consolidation range, then it may reach the nearest target resistance levels of $1.739 and $1.932.
At the time of publishing, THORChain (RUNE) is trading between 20 and 50-day EMA, showing neutrality on daily charts. RSI is around 49, turned neutral and MACD indicates bearishness to consolidation. Collectively, the indicators’ view is consolidation to bearish.
Conclusion
The RUNE crypto price prediction shows a neutral to negative outlook and a lack of confidence from investors and traders in the daily time frame. THORChain price action reveals a downward trend at the time of writing. Moreover, the daily chart shows that the price will keep going down, according to the most trusted and widely used technical tools such as RSI, EMA, and MACD.
Technical Levels:
- Support levels: The nearest support levels are $1.385 and $1.302.
- Resistance levels: The nearest resistance levels are $1.739 and $1.932.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
