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- The THORChain coin price has outperformed 84% of the top 100 crypto assets.
- In the last 30 days, the coin’s price has traded in green for 19 days.
The THORChain coin price was down by 80% from its all-time high of $21.26, formed three years ago.
It ranked 55th in the global crypto market. That showed its strong market presence, followed by a market cap dominance of 0.06%.
The coin’s supply inflation was also very low at 0.21%, followed by a circulating supply of 337.029M RUNE. Also, the coin’s total supply has been 413.549M RUNE and a fully diluted market cap of $1.762B.
The market cap witnessed a decline of 9.6% at the time of writing, but there was no significant change in the traded value. The coin’s market cap value has been $1.438B.
The coin has excellent liquidity, as the volume/market cap ratio has been 13.91%. That makes buying and selling crypto easier in challenging market conditions.
The coin’s sentiment has been further bearish, and its fear and greed index was 68. It showed greed among the coin investors.
THORChain Blockchain Data Overview
The Total Value Locked for the THORChain coin was worth $249.05M, and the staked amount was worth $430.89M.
The THORChain coin’s fully diluted market cap has declined over time, followed by the decline in the TVL of the coin. It showed a decline in the project activity of the coin’s ecosystem.
RUNE Coin Technical Analysis
The RUNE coin price was in a strong downtrend, which has led to a consistent decline in the coin’s price over a long time.
From October 2023 to March 2024, the price followed a strong uptrend, driving the price by more than 600%. Despite the strong surge, the coin’s price reached a swing high of $11.46 on 13th March 2024.
Since then, the coin’s price has started to decline from higher levels, which has led to a decline of 65%.
Following the most recent price action, the RUNE coin price declined below a strong support level. It showed that the coin’s price was still weak.
RUNE/USD Chart by TradingView.com
The RUNE coin price has declined below the 50-day and the 200-day EMAs, after which a fresh death cross of the EMAs has also formed on the coin’s chart. That again exhibited weakness in the coin’s price.
The MACD and the signal line have advanced to the bullish trajectory, followed by a golden cross of the EMAs metrics.
The RSI also sustained above the 50-level but has declined below the 14-day SMA, which shows uncertainty in the coin’s price.
RUNE coin experienced an 80%
The RUNE coin has experienced an 80% decline from its all-time high, breaking below crucial support levels.
Despite a brief uptrend earlier this year, the coin’s price is weak, with bearish sentiment prevailing. Technical indicators show mixed signals, suggesting uncertainty about the coin’s future price direction.
The RUNE coin’s price might take support at the level of $1.50 and $2.70. Its resistance levels can be $7.30 and $9.50.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
