RUNE BTC THORChain Technical Analysis

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By Frans van Elst

THORChain logo In this THORChain technical analysis, we will examine the current price action, trading volume, key levels and indicators for RUNE-BTC. THORChain is a decentralized, cross-chain liquidity pool that enables users to trade assets across multiple blockchains. With its unique multi-chain architecture and liquidity pool, THORChain provides users with seamless interoperability between different blockchain ecosystems. By leveraging the power of smart contracts and decentralized governance, THORChain aims to create a more inclusive and efficient cryptocurrency marketplace.

THORChain Price Overview:

As of May 14, 2024, THORChain is trading at approximately 9e-05 BTC. Let’s dive into the detailed price action for RUNE-BTC:

Explore THORChain’s (RUNEBTC) potential for growth at 9.07e-05 BTC as technical analysis leans bullish, emphasizing strong support and promising indicators.

Metric Value
Open (O) 9e-05
High (H) 9e-05
Low (L) 9e-05
Close (C) 9e-05
Volume (C) 48,746.70
  • Open (O): The opening price for today’s trading session was approximately 9e-05 BTC.
  • High (H): THORChain reached a daily high of around 9e-05 BTC.
  • Low (L): The daily low for RUNE-BTC was approximately 9e-05 BTC.
  • Close (C): At the time of analysis, THORChain is trading near its daily close of 9e-05 BTC.
Metric Value
1D Change (%) -1.68%
3D Change (%) -5.18%
7D Change (%) 6.82%
30D Change (%) 10.09%
90D Change (%) -14.88%
YTD Change (%) -25.77%

Over the past three days, RUNEBTC has declined by approximately -5.18%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 6.82%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with RUNEBTC maintaining an upward trend of approximately 10.09%, despite intermittent fluctuations. Examining the last 90 days, RUNEBTC has witnessed substantial drop of approximately -14.88%, reflecting strong long-term confidence. Year-to-date, RUNEBTC has steadily depreciated by around -25.77%, 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 0.61051.
  • Momentum score is 0.05935.

RUNE BTC Technical Analysis

THORChain Trading Volume:

The trading volume for THORChain (RUNE) over the past 24 hours has been insignificant, with approximately 48,746.70 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 below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): THORChain is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for RUNE-BTC is currently in the neutral zone, around 47.1848. This suggests that THORChain is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

THORChain (RUNE-BTC) is currently exhibiting signs of short-term bearish 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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Explore THORChain’s (RUNEBTC) potential for growth at 9.07e-05 BTC as technical analysis leans bullish, emphasizing strong support and promising indicators.

Unlock additional insights on RUNE USDT THORChain Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of this post.

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.

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