In this THORChain technical analysis, we will examine the current price action, trading volume, key levels and indicators for RUNE-BTC. Sure, here are three sentences about THORChain (RUNE) cryptocurrency: THORChain (RUNE) is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm to secure its network and facilitate fast and low-cost transactions. With its unique multi-chain architecture, THORChain enables interoperability between different blockchain networks, allowing users to seamlessly exchange assets across different platforms. By leveraging the power of decentralized finance (DeFi) and non-fungible tokens (NFTs), THORChain is poised to revolutionize the way we think about digital assets and financial services.
THORChain Price Overview:
As of October 03, 2023, THORChain is trading at approximately 7e-05 BTC. Let’s dive into the detailed price action for RUNE-BTC:
| Metric | Value |
|---|---|
| Open (O) | 7e-05 |
| High (H) | 8e-05 |
| Low (L) | 7e-05 |
| Close (C) | 7e-05 |
| Volume (C) | 506,421.10 |
- Open (O): The opening price for today’s trading session was approximately 7e-05 BTC.
- High (H): THORChain reached a daily high of around 8e-05 BTC.
- Low (L): The daily low for RUNE-BTC was approximately 7e-05 BTC.
- Close (C): At the time of analysis, THORChain is trading near its daily close of 7e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.71% |
| 3D Change (%) | 1.29% |
| 7D Change (%) | 8.77% |
| 30D Change (%) | 28.67% |
| 90D Change (%) | 113.30% |
| YTD Change (%) | -6.21% |
Over the past three days, RUNEBTC has increased by approximately 1.29%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 8.77%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with RUNEBTC maintaining an upward trend of approximately 28.67%, despite intermittent fluctuations. Examining the last 90 days, RUNEBTC has witnessed substantial increase of approximately 113.30%, reflecting strong long-term confidence. Year-to-date, RUNEBTC has steadily decreased by around -6.21%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
THORChain Live Chart:
You can access a live price chart for RUNE-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.6474.
- Momentum score is 0.28665.
RUNE BTC Technical Analysis
THORChain Trading Volume:
The trading volume for THORChain (RUNE) over the past 24 hours has been significant, with approximately 506,421.10 BTC traded against RUNE. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): RUNE is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): THORChain is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for RUNE-BTC is currently in the high zone, around 60.75415. This suggests that THORChain is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
THORChain (RUNE-BTC) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the high RSI and significant trading volume are high signals for potential upward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
