- THORChain (RUNE) saw an 11.5% increase in the last 24 hours.
- RUNE’s value decreased by 24% on October 12, but rebounded quickly.
- RUNE’s trading volume rose by 95.88% in the last 24 hours.
During the recent market instability, THORChain
After peaking at an intra-day high of $2.04 on October 6, THORChain underwent a swift adjustment and discovered robust support at the $1.33 mark. This led to a fresh trading range for RUNE, with the upper and lower limits set at $1.72 and $1.39, respectively.
Reviewing the 24-Hour Price Fluctuations of RUNE
On October 12, the cryptocurrency RUNE saw a significant decrease in value of 24%, plummeting from $1.94 to $1.47. Despite this, the digital asset was able to rebound quickly and even exceeded its prior peak value.
Based on the daily price chart, should the existing market trends continue, the price of THORChain could reach a high of approximately $1.97 or even surpass it to $2.23. Conversely, if the market turns bearish, the price of THORChain may drop, with possible support levels at around $1.52 and potentially even lower to $1.358.
The Relative Strength Index (RSI) remains in the oversold zone, signaling the possibility of additional increases. The RSI is a technical tool utilized to evaluate the momentum of a digital asset, and an oversold status typically implies that there could be additional scope for a price rise.
THORChain (RUNE) is currently being traded at a price of $1.71, with an impressive daily trading volume of $111 million. This significant rise equates to a 95.88% uptick in trading activity in the last 24 hours, suggesting a growing interest from investors in the potential of RUNE.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
