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- 1 The THORChain Network price increased by 8.12% over the last week trading above all major EMAs.
- 2 The price of the RUNE crypto is trading at $0.754 and the 52-week range is $0.777 – $1.754.
The RUNE crypto has performed well in the last month, increasing 12.80% and by 22.80% in the last six months. THORChain Network (RUNE) crypto has a positive year-to-date return of 37.62% and a negative one-year return of 3%.
THORChain Network crypto surged by 0.72% in market value and by 36.32% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $592,808,847 and its trading volume is $80,937,978. There are 337,541,237 RUNE in circulation.
THORChain (RUNE)’s open interest is $67.50 Million. As per Coinglass, another crypto analysis website, it rose by 28.49% in the last session. The long versus short ratio for 24 hours is 1.079. The short liquidation is $193.12K versus $1.17K for the long liquidation.
RUNE Price Technical Analysis in the 1-Day Timeframe
RUNE crypto price showed a downward trend earlier and started falling from this year in February month and plummeted up to $0.9 around August month. From September, the buyers were active which boosted the price upwards and in a short time, reversed back.
At the time of publication, the RUNE crypto price is trading at $1.754, and the price has given a breakout in a symmetrical triangle after a good time spent in consolidation.
Therefore, if the RUNE price sustains the current level and rises, then it might hit the nearest resistance levels of $1.847 and $1.987 and rise even further.
If it fails to maintain the current level, RUNE crypto price could go down and reach the nearest support at $1.638 and $1.438.
At the time of publishing, the RUNE crypto price is trading above the 20, and 50-day EMAs (exponential moving averages).
The MACD line at 0.060 and the signal line at 0.055 is above the zero line, both lines closed down to each other and a bullish crossover is observed in the MACD oscillator. The current value of the RSI is 65.60 points and the 14-day SMA is above the median line at 56.11 points.
Collectively, all indicators suggest a continuation of bullish momentum.
Conclusion
RUNE crypto price prediction highlights the bullish sentiments and perspectives of investors and traders regarding RUNE crypto in the daily time frame. THORChain price action highlights the continuation of bullishness at the time of publishing. Moreover, the technical parameters of the THORChain price suggest the continuation of the uptrend over the daily time frame chart.
Technical Levels
- Support levels: $1.638 and $1.438
- Resistance levels: $1.847 and $1.987
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
