- THORChain (RUNE) is currently trading at $1.5.
- The current market cap of the RUNE coin is $521.9 Million.
- RUNE’s price is currently below the 100-day and 200-day EMA levels.
THORChain (RUNE) coins be traded on centralized cryptocurrency exchanges. The THORChain (RUNE) coin is currently moving in a downward direction. The RUNE price moves by creating lower lows while the coin price establishes a bearish trend.
The Open Interest in the RUNE coin is declining by 20% as on 17 August 2023. The total OI is $96.7 Million. The average volume for the coin is $964.5 Million. The volume of RUNE declined by 36.7%.
The market cap of THORChain (RUNE) is at $521.9 Million, which is down by 1.57% as of 17 August 2023. The coin is currently trading at $1.5. In the last year, the coin experienced a decline of -41.65%.
The THORChain coin has made a 52-week high of $2.79 and the 52-week low of the coin is $0.78. The total supply of the coin is 486,077,749 RUNE.
THORChain hit an all-time high of $21.26 on 19 May 2021 almost 2 years ago. After this, RUNE started declining. The price of THORChain has declined by over 92.7% by 12 June 2023.
THORChain (RUNE) is now trading by forming lower lows. The price of RUNE is going to drop soon because it is currently forming a weak structure and the overall trend is indicating a possible down move.
THORChain (RUNE) Coin Price Prediction
Technical Indicators
THORChain’s coin price trades below the 50-day EMA levels. This indicates that the RUNE coin is in a bearish trend and that further decline in coin price is possible.
The MACD line for the THORChain coin is trading below the signal line. There is also a red histogram formation in the coin. This suggests that the RUNE coin is currently bearish and the prices may fall in the next few days.
The 14-day simple moving average line and the relative strength index line of the THORChain (RUNE) coin are close to the 30 level. The weak RSI line for RUNE coins indicates that the price will fall in the future.
Conclusion
As per the analysis, the price of THORChain (RUNE) is decreasing. Total bearish sentiment is observed to be increasing. Also, the volume has declined by 36% in 24 hours. The indicators are giving negative signals and further price fall is indicated in the upcoming days.
Technical Levels
- Support Level: $0.7.
- Resistance Level: $3.11.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.