RUNE USDT 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-USDT. THORChain (RUNE) is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm, allowing for fast and secure transactions. With its unique multi-chain architecture, THORChain enables interoperability between different blockchains, opening up new possibilities for cross-chain communication and collaboration. By leveraging the power of decentralized finance (DeFi), THORChain aims to provide users with a wide range of financial services and tools, all within a secure and transparent ecosystem.

THORChain Price Overview:

As of July 06, 2024, THORChain is trading at approximately 3.374 USDT. Let’s dive into the detailed price action for RUNE-USDT:

Acknowledge potential headwinds for THORChain (RUNEUSDT) at 3.37 USDT through bearish technical analysis, featuring weakened support and cautionary indicators.

Metric Value
Open (O) 3.359
High (H) 3.426
Low (L) 3.31
Close (C) 3.374
Volume (C) 7,343,401.60
  • Open (O): The opening price for today’s trading session was approximately 3.359 USDT.
  • High (H): THORChain reached a daily high of around 3.426 USDT.
  • Low (L): The daily low for RUNE-USDT was approximately 3.31 USDT.
  • Close (C): At the time of analysis, THORChain is trading near its daily close of 3.374 USDT.
Metric Value
1D Change (%) 0.48%
3D Change (%) -13.29%
7D Change (%) -14.17%
30D Change (%) -43.92%
90D Change (%) -54.57%
YTD Change (%) -34.64%

Over the past three days, RUNEUSDT has fallen by approximately -13.29%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -14.17%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with RUNEUSDT maintaining a downward trend of approximately -43.92%, despite intermittent fluctuations. Examining the last 90 days, RUNEUSDT has witnessed substantial drop of approximately -54.57%, reflecting strong long-term confidence. Year-to-date, RUNEUSDT has steadily declined by around -34.64%, 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 0.67259.
  • Momentum score is -0.27659.

RUNE USDT Technical Analysis

THORChain Trading Volume:

The trading volume for THORChain (RUNE) over the past 24 hours has been insignificant, with approximately 7,343,401.60 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 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-USDT is currently in the low zone, around 35.27019. This suggests that THORChain is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

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

Acknowledge potential headwinds for THORChain (RUNEUSDT) at 3.37 USDT through bearish technical analysis, featuring weakened support and cautionary indicators.

Discover even more by checking out our comprehensive analysis on RUNE BTC THORChain Technical Analysis — a perfect follow-up if you enjoyed 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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