In this THORChain technical analysis, we will examine the current price action, trading volume, key levels and indicators for RUNE-USDT. Thorchain (RUNE) is a decentralized liquidity protocol that enables the seamless exchange of assets between different blockchains, allowing for greater interoperability and flexibility in the cryptocurrency market. By utilizing a unique cross-chain bridging technology, RUNE facilitates the transfer of value across different networks without the need for trusted intermediaries or complex smart contracts. Through this innovative approach, Thorchain is poised to revolutionize the way assets are traded and transferred within the cryptocurrency ecosystem.
THORChain Price Overview:
As of September 22, 2023, THORChain is trading at approximately 1.745 USDT. Let’s dive into the detailed price action for RUNE-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.769 |
| High (H) | 1.804 |
| Low (L) | 1.738 |
| Close (C) | 1.745 |
| Volume (C) | 3,633,070.60 |
- Open (O): The opening price for today’s trading session was approximately 1.769 USDT.
- High (H): THORChain reached a daily high of around 1.804 USDT.
- Low (L): The daily low for RUNE-USDT was approximately 1.738 USDT.
- Close (C): At the time of analysis, THORChain is trading near its daily close of 1.745 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.36% |
| 3D Change (%) | -8.64% |
| 7D Change (%) | -4.23% |
| 30D Change (%) | 9.13% |
| 90D Change (%) | 79.71% |
| YTD Change (%) | 36.97% |
Over the past three days, RUNEUSDT has declined by approximately -8.64%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -4.23%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with RUNEUSDT maintaining an upward trend of approximately 9.13%, despite intermittent fluctuations. Examining the last 90 days, RUNEUSDT has witnessed substantial increase of approximately 79.71%, reflecting strong long-term confidence. Year-to-date, RUNEUSDT has steadily increased by around 36.97%, 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-USDT 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 0.77042.
- Momentum score is 0.09131.
RUNE USDT Technical Analysis
THORChain Trading Volume:
The trading volume for THORChain (RUNE) over the past 24 hours has been insignificant, with approximately 3,633,070.60 USDT 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-USDT is currently in the high zone, around 58.24774. This suggests that THORChain is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
THORChain (RUNE-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and insignificant 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.
