- Rune coin price is currently seeing a weak consolidation. The asset price has seen a gain of 2.52% in the past 24 hours.
- Technical indicators of Thorchain suggests a downside trend in price. Meanwhile, the RUNE/BTC pair has observed a gain of 2.02% in the last 24 hours.
Crypto market has seen a strong downtrend with the fall of FTX in the past few weeks. Various altcoins have been seen bleeding in this time. Meanwhile RUNE has observed a greater stability and has maintained above $1 with a drop in the crypto market. The price of Thorchain has been observing a strong consolidated trend between $1 and $1.4. The asset price can see an upside trend and move to a newer high with rise in the crypto market.
Thorchain market cap has seen a rise of 3.42% in the past 24 hours and the volume has seen a decrease of 2% in the intraday session. RENNEN is currently ranked 77th in the CMC with a market dominance of 0.05%. Volume to market cap ratio of the asset price suggests a consolidated trend in asset price.
Bulls Of RUNE Crypto Are Getting Anxious For A New High
The weekly technical chart of ThorChain price hints towards a downside trend. On coming to the daily chart the asset price is looking to jump above the mark of $2. The asset price is currently trading near the value of $1.238 and has seen a gain of 2.77%. RUNE token price is currently trading below its 50 and 100 Daily Moving Average. It can see a positive crossover in the near future. The upside momentum of RUNE coin price can see a halt near $1.6. Meanwhile a bounceback on the downtrend can be seen near $1.
RSI: RSI of the asset price is near 45 with a positive slope formed. If the RSI crosses above 55 then an upside trend can be seen in near future. The overall sentiment of RSI is bearish.
Konklusioun
Crypto market has observed a severe downtrend with the fall of FTX. RENNEN coin price has also taken a hit this fall. Thor Chain price can see an upside move in the near future.
technesch Indicateuren
Major Ënnerstëtzung: $ 1- $ 1.1
Major Widderstand: $ 1.7- $ 1.8
Verzichterklärung
D'Meenungen an d'Meenungen, déi vum Autor uginn sinn, oder all Leit, déi an dësem Artikel genannt ginn, sinn nëmme fir Informatioun Iddien, a si etabléieren net d'Finanz, Investitioun oder aner Berodung. Investitioun an oder Handel vu Krypto Verméigen kënnt mat engem Risiko vu finanzielle Verloscht.
Source: https://www.thecoinrepublic.com/2022/11/17/thorchain-price-analysis-rune-coin-price-struggles-to-jump-above-1-5/