- The THORChain price is at an upward trend of around 7.7% during the intraday trading session.
- The 24-hour trading volume is at $147 million.
- RUNE/BTC pair is also trading positive by 7.0% at 0.00022289 BTC.
The daily technical chart and price action of THORChain display an upward trend. According to the pivot levels, the primary support level is $8.60. On the other side, if it rushes up, the resistance level to follow is $11.90. Although the chart forms a bullish engulfing candlestick pattern within the day, it is predicted that the price may remain upwards with medium reliability.
The Ichimoku Cloud, consisting of lead 1 & lead 2 with a displacement value of 1. It operates as a pivot level and a leading indicator in the asset price change. Investors may witness the price break above the Red Moku Cloud and now flies above the Green Moku Cloud, so until the price resides above the Green Moku Cloud, it will assure a bullish trend in RUNE.
The volume of (3.385M) is below the MA of 20-days (8.927M). As a result, the volume is low, causing its price to struggle at the pivot. Investors may also mark that the volume bars on the chart are inclining, which intimates that notable volatility is expected in the upcoming trading session.
The Schaff Trend Cycle indicator (bullish) with a 37.50 represents a buy signal in the coin, projecting an uptrend. Additionally, Investors can see a green buy signal and an upward slope in the index.
THORChain (RUNE) Price Action Shows Increase in Momentum
Today’s price of THORChain is 10.64 US dollars, and the 24-hour trading volume is 147,612,328 US dollars. The price of RUNE has increased by 7.7% in the past 24 hours. There are 260 million RUNE coins in circulation, with a total of 500 million. The STC indicator shows a buy signal, and the traders have guided low volume. Technically, the price is struggling around the pivot zone and remains in an upward trend. Therefore, as with overall market sentiment, the trend remains bullish in upcoming trading sessions.
Resistance Level: $11.90
Support Level: $8.60