- RUNE Token shows strength and sustains above $10.0 on an intraday trading session
- The RUNE/BTC pair was trading at 0.0003285 BTC with a 20.60% gain
- The 24-hour volume in THORchain is declining by 7.25% at $$262,748,794
The 4-hour technical chart of RUNE token price action has gotten close to EMA-200 and is now fighting to breach it. According to pivot levels, THORchain’s critical support level is $11.70. Moreover, if it moves upside, the crucial resistance to watch is $17.65. Besides, the chart also features a spinning top candle showing neither bulls or bears could gain control over the coin.
The Exponential Moving Average (EMA), concerning EMA-200, acts as solid support in the coin’s price. EMA 200 (red line) is above the current market price, which intimates a bearish trend. Investors may notice the price is also fighting to sustain above EMA-200. So until the price resides below EMA, it will ensure THORchain’s negative momentum.
The Stochastic RSI indicator (Overbought) with the value of K-93 D-96 indicates a buy signal in the coin. The RSI line remains in a bullish zone on intraday sessions under moderate buying pressure. Hence, It may cool down in upcoming trading sessions.
The volume of (6.30M) showcases above the Volume MA (4.40M) of 20-days. The investors in RUNE will book their positions in the order book, resulting in a slight drop in the price.
Why THORchain (RUNE) Token Is Different From Others?
RUNE token price today is $13.01 with a 24-hour trading volume of $310,808,960. RUNE cost is up by 27.4% just now. It has a circulating supply of 250 Million RUNE coins and a maximum stock of 500 Million.
ThorChain is a decentralized liquidity network with an interoperable blockchain that permits cross-chain token trades in a non-custodial way. It doesn’t peg or wrap other assets, however just permits users to trade tokens across different Layer 1 blockchains. In this way, traders on ThorChain can consistently move from Bitcoin to Ethereum, to Polkadot and so on without enlisting for a trade or going through KYC, as on centralized exchanges (CEXs). Subsequently, users are negligibly presented to custody and counterparty risks.
So the question is, what separates ThorChain from others, is its cross-chain highlight – which empowers any asset to be traded, and a pool made around it. This opens an entirely different universe of opportunities for DeFi users and its ecosystem alike. ThorChain has seen its prevalence ascend as it acquired the consideration of Multicoin Capital, where they declared that RUNE addresses one of their biggest public positions, since they accept that ThorChain plays an very important part inside the cryptoverse. Right now, the multichain testnet is accessible and the mainnet is yet to be launched.
Resistance: $30.0
Support: $22.0