Minter
Quack AI
STONK
Pons
Sui
Pearl
Bittensor
- THORChain coin price is currently observing an upside momentum and can soon reach a new high. It might soon hit a new high of $10 in the future
- Technical indicators of RUNE coin price hints towards a strong upside momentum in the price. In contrast, the RUNE/BTC pair is also in a bull run with a loss of more than 2.44%
THor chain has recently seen a sophisticated attack on its ETH router. Despite the attack, the coin price continues to move in an uptrend. RUNE crypto is ranked 60th in the CMC and has a market dominance of more than 0.1%. The market cap to the TVL ratio of the coin is 16.17 which has doubled within a week. The volume to the market capitalization of the THORchain suggests an upside momentum in the coin.
Why Invest In RUNE Crypto?
RUNE platform is an advanced decentralized liquidity protocol that allows its users to easily exchange cryptocurrency assets across various blockchains without losing full custody of the assets in the process. It is an automated market maker where users can simply swap one asset with another without relying on the source of liquidity of the orderbook. THORChain platform has no CEO and no founders. The development of RUNE is done through Gitlab. RUNE is not a profit-oriented token. All the profits generated go to the users and the team is incentivized by holding the RUNE coin.
Technical Indicators Suggests A Strong Bullish Momentum In RUNE Crypto Price
The weekly technical chart of the RUNE price suggests a strong uptrend for the upcoming weeks. On the daily chart, Thorchain price is trading below 100 and above 50 Daily Moving average. The 100 MA line of the RUNE is near $9.22, making it a resistance zone for the coin. The price has given a positive crossover from 50MA suggesting a strong uptrend in price. RUNE crypto price resistance while going upside can be seen near $8. On the downside, a bounce back in the price can be found near $5. There is a formation of a bullish engulfing pattern on the daily chart. It suggests that the price may soon see a breakout above $10. RUNE/BTC pair can observe a breakout from the previous resistance.
Conclusion
RUNE crypto price is currently observing an uptrend and can soon see a breakout above $10. The price of the coin may soon see new highs being formed. RUNE/BTC pair can also observe a strong upside momentum in price in the future.
Technical Levels
Major Support:$5
Major Resistance:$7
