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THORChain (RUNE) Price Prediction – When will RUNE hit $10?

THORChain (RUNE) Price Prediction

The buying pressure in RUNE/USD became potent as soon as the THORChain network opened access to cross-chain and native liquidity. It launched its single-side stacking capabilities, allowing community members to be beneficial through DeFi while maintaining complete ownership of their native BTC or other assets.  

Anyone can leverage multi chain financial services for the first time, without secondary asset exposure and without using wrapped tokens. It eliminates impermanent loss prevalent risk in noncustodial crypto lending and reduces network exposure of liquidity pools. While wrapped tokens and cross-chain bridges are commonly used to facilitate exchanges between blockchain networks, THORChain merely denotes that collateral for the original asset that is locked on a different protocol. THORChain-enabled permissionless transfer of native BTC and the complete noncustodial single-sided staking facilitates. 

Currently, there are 330,688,061 RUNE in circulation, which is 666% of the 500,000,000 max supply. THORChain price today has a market cap of $466,900,205, where the trading volume for the last 24 hours was $30,906,583.

Let’s see the Thorchain Forecast from the THORChain (RUNE) Price Prediction:

RUNE/USD Trades Below The Critical Supply Area

RUNEUSD Trades Below The Critical Supply Area

 

In the RUNE Forecast, the recent selling pressure from the 1.731 resistance level came with a buy-side liquidity grab that made it a solid top. On the other hand, the order block from the 1.005 swing low was tested, which is a sign that bears are yet to form a bottom. In this context, bears from the 1.731 to 1.577 zone regain momentum, depending on how the price reacts in this area.

The highest trading volume level from the August high to November low is at 1.607, which is within the near-term supply zone. For the November low to high, the highest trading volume level is spotted at the 1.200 level, where the current price is corrective above it.

The 20-day Exponential Moving average is working as a support in the daily chart, where the Relative Strength Index (RSI) is aiming for the overbought 70% level.

Based on the current THORChain Price Prediction, any bearish possibility in this pair is potent as long as it trades below the 1.731 key resistance level. The aggressive approach is to wait for the price to come to that supply zone and form a bearish daily candle. However, a new swing low formation with a D1 close below the 20 DMA could offer a conservative short approach.

The alternative idea is to wait for a bullish break above the 1.731 level, before aiming for the 2.50 psychological level.

RUNE/USD Ichimoku Cloud Analysis

RUNEUSD Ichimoku Cloud Analysis

 

In the RUNE/USD H4 chart, the buying pressure is solid as the current price shows a strong buying pressure above the dynamic Kumo Cloud support. The Senkou Span B is sloping higher, whereas the Senkou Span A is above B, indicating short-term buyers' presence in the market.

The challenge for bulls is the emerging divergence between the price and MACD EMA. Although the price makes higher highs, MACD EMA’s are moving down, which is a sign of a possible price reversal. 

Based on the H4 RUNE Price Prediction, the buying pressure is still solid as long as it trades above the 1.324 support level. The price is carried by the dynamic Tenkan Sen and Kijun Sen support, which could increase it towards the 1.598 level.

The alternative trading approach is to find a strong bearish H4 candle below the 1.324 level, which will increase the possibility of a corrective price pressure within the Kumo Cloud. 

RUNE/USD Intraday Price Action Analysis

RUNEUSD Intraday Price Action Analysis

 

In the intraday price chart of RUNE/USD, the bullish possibility is solid as the visible range high volume level is below the price, working as a support level. Moreover, the price tested the dynamic 20 EMA and weekly VWAP as support and formed a bullish H1 candle above these.

The indicator window shows the same story where the current TDI line showed a strong rebound from the oversold area and reached the 50% neutral level.

Based on the H1 price prediction, THORChain price has a higher possibility of showing a bullish trend continuation, where the primary aim is to test the 1.500 psychological level.

On the other hand, the bullish possibility is solid as long as the price trades above the 1.357 support level. Below this level, with a bearish H4 candle would drag the price down towards the 1.256 support level.

Is RUNE/USD A Buy?

Based on the current RUNE Coin Price Prediction, RUNE/USD is more likely to increase higher in the coming days. However, investors should closely monitor the daily chart, where a bearish daily close below the 20 EMA could eliminate the buying possibility at any time.

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