- THORChain coin price is seeing a downside momentum on the daily chart. It has seen a loss of more than 13% in the past 24 hours
- The technical indicators of RUNE suggest a strong downtrend in price for the future . In contrast, the RUNE/BTC pair is down by more than 7%
RUNE coin price has seen a decline in its market cap along with its market dominance. The market cap to the TVL ratio of the asset is 10.51 which has also observed a decrease from 23.The volume to the market capitalization of the Thorchain suggests a strong downside momentum in price. One can forecast a strong correction in price once this downside momentum is over.
Thor chain price is currently observing a downside momentum which can lead it to a new low in the future. It is trading near the value of $7.726 and has seen a loss of more than 10%. It can soon revert to the uptrend once it breaks above 15 to 20% above the current level. One can invest in the given asset according to their needs and risk adversity.
Rune Coin Price May See A Correction After The Downtrend
The weekly technical chart of the Thorchain price suggests a bearish momentum in price for the upcoming weeks. On the daily chart, RUNE coin price has observed a strong downfall. It is currently trading above the 100 and below 50 Daily Moving Average. The 100 MA line of the RUNE is near $7.2 making it a crucial support zone for the price. If the price crosses below the 100DmA then a strong downside momentum can be seen in asset price. RUNE price might see a resistance while going upwards near $12. On the downside, a support in the price can be observed near $5. RUNE/BTC pair might also see test the lower support in future
Conclusion
RUNE crypto price is seeing a downtrend on the daily chart which can lead it to a new low. Thorchain has benefitted the investors for a long time and can do the same in future. RUNE/BTC pair can also test the lower support in future. One should do their due diligence before investing in to the market
Technical Levels
Major Support:$5
Major Resistance:$12