- MetaMask has recently incorporated support for cryptocurrency THORChain (RUNE).
- The price of RUNE increased by over 9% in 24 hours.
- The daily MACD line for RUNE has shifted from bearish to bullish.
Joel Valenzuela, a prominent figure in the cryptocurrency sector, revealed on X yesterday that MetaMask has recently incorporated support for THORChain
The recent announcement has amplified the prior positive trajectory of THORChain’s inherent digital currency, RUNE. This suggests that optimistic investors have acquired heightened assurance owing to Thorchain’s recent availability via Metamask.
According to CoinMarketCap, the price of RUNE has increased by over 9% in the last 24 hours. Consequently, RUNE was valued at $1.89 at the time of reporting, just under its daily high of $1.92.
Furthermore, the 24-hour trading volume of RUNE was recorded at $113,964,160, marking an increase of over 48% from the day before. The digital currency also gained strength against the market’s leading cryptocurrency, Bitcoin
The encouraging developments related to RUNE and MetaMask positively influenced the token’s performance, resulting in a 19.95% increase over the last week. Concurrently, with a market capitalization of $636,588,998, RUNE secured the 52nd position in ranking the largest cryptocurrencies.
In technical terms, the price of RUNE has been fluctuating within a consolidation range of $1.345 and $2.050 for the past fortnight. Currently, the altcoin is making an effort to surpass this range. Should RUNE conclude a daily candle beyond $2.050, it could escalate to $3.010.
Nonetheless, should RUNE encounter resistance at its current price level, it may retract to the lower boundary of the price channel, which stands at $1.345. Subsequent sustained selling pressure could result in it breaching this support level and descending to the next crucial price level of $1.080.
In the last 48 hours, the daily MACD line has moved below the MACD Signal line, a noteworthy development to which investors and traders should pay attention. This is a crucial bullish technical indicator, suggesting that the trend for RUNE has shifted from bearish to bullish recently.
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.
