Thorchain Price Analysis: RUNE Coin Price Is Ready To Rally For A New High

• RUNE coin price is currently seeing a strong upside momentum and can soon see a rally to a new high.It is currently trading with a gain of more than 1.7% in the intraday session
• Technical indicators of Thorchain suggest an upside momentum in price. In contrast, RUNE/BTC pair has observed a gain of more than 5% in the past 24 hours

Rune coin price is currently seeing an upside momentum which can help it to surpass an all-time high value. Thor Chain’s price is currently trading near the value $10.8 and is up by more than 1.2% in the past 24 hours. It has a very high ROI which has made investors very profitable in the past. It has to cover more than 50% of its current values to see a jump over the all-time high. One can invest in RUNE as per their needs and risk capacity

Thorchain market dominance along with the market cap is seeing a strong recovery which can soon lead it to a new high. The volume of the coin is also seeing a strong upside momentum and can soon see a new high in the future. The volume to market cap ratio of the RUNE may push the asset price to a new high in the future. One can forecast strong growth in price in the future.

Technical indicators Of RUNE Coin Suggests A Strong Bull Trend In Price

The weekly technical chart of the Thor chain suggests a strong upside momentum in price. One can observe the same bull rally in the daily chart. The upside momentum of RUNE may face a hostile region near the value of $15. Meanwhile, the bounceback zone in the coin can be seen around $5. There is a formation of a strong supply zone on the daily chart. If the coin price jumps 5 to 10% above the current level then a strong bull rally can be seen. The asset price is currently trading above the 50 and 100MA. If the coin price sees the same momentum then a strong upside can be seen.RUNE/BTC pair can also see strong bullish momentum in future

Conclusion

Thorchain price is currently seeing a bull trend which can soon push it to near its all-time high. RUNE/BTC pair might also see a new high being formed in the future.

Technical Indicators

Major Resistance: $15

Major Support:$7

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