THORChain Price Prediction — Will RUNE Hit $15 Soon?
- Bullish RUNE price prediction is $5.216 to $13.80.
- The RUNE price will also reach $15 soon.
- RUNE bearish market price prediction for 2022 is $2.149.
In THORChain’s (RUNE) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about RUNE to analyze the future movement of the cryptocurrency.
THORChain Current Market Status
According to CoinGecko, the price of RUNE is $4.82 with a 24-hour trading volume of $39,763,067 at the time of writing. However, RUNE has increased nearly 3.5% in the last 24 hours.
Moreover, RUNE has a circulating supply of 300,750,084 RUNE. Currently, RUNE trades in cryptocurrency exchanges such as Binance, FTX, CoinTiger, Bybit, and Mandala Exchange.
What is THORChain (RUNE)?
THORChain is an independent blockchain built with the Cosmos SDK that will function as a cross-chain decentralized exchange (DEX). It employs an automated market maker (AMM) model similar to the early iterations of Bancor (BNT) or Uniswap, with THORChain’s native token (RUNE) serving as the base swap pair.
THORChain (RUNE) Price Prediction 2022
THORChain holds the 83rd position on CoinGecko right now. RUNE price prediction 2022 is explained below with a daily time frame.
The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. The consolidation phase is used by the buyers to regroup and attract new buying interest, which will be used to defeat the bears and push the price action further higher.
Currently, RUNE is in the range of $4.83. If the pattern continues, the price of RUNE might reach the resistance level of $5.216 and $8.206. If the trend reverses, then the price of RUNE may fall to $3.63.
THORChain (RUNE) Support and Resistance Level
The below chart shows the support and resistance level of RUNE.
From the above daily time frame, it is clear the following are the resistance and support levels of RUNE.
- Resistance Level 1 – $5.963
- Resistance Level 2 – $9.252
- Resistance Level 3 – $13.809
- Resistance Level 4 – $20.879
- Support Level 1 – $3.588
- Support Level 2 – $2.149
The charts show that RUNE has performed a bullish trend over the past month. If this trend continues, RUNE might run along with the bulls overtaking its resistance level at $3.588.
Accordingly, if the investors turn against the crypto, the price of the RUNE might plummet to almost $2.149, a bearish signal.
THORChain Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of RUNE is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of RUNE lies below the cutoff line, indicating weaker participants in the current trend.
More so, the RUNE’s Moving Average (MA) is shown in the chart above. Currently, RUNE is in a bullish state. Notably, the RUNE price lies above 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of RUNE at any time.
Meanwhile, the relative strength index (RSI) of the RUNE is at level 51.61. This means that RUNE is in a neither overbought nor oversold state. However, this means a major price reversal of RUNE may occur in the upcoming days. So, traders need to trade carefully.
THORChain Price Prediction 2022 — ADX, RVI
Let us now look at THORChain’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of THORChain. Currently, RUNE lies in the range of 21.44, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of RUNE. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of RUNE lies below the 50 levels, indicating that the direction of volatility is low. In fact, RUNE’s RSI is at 51.61 level thus confirming a potential sell signal.
Comparison of RUNE with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and THORChain.
From the above chart, we can identify the trend of the ETH, BTC, and RUNE is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and RUNE also increases or decreases respectively.
Conclusion
With continuous improvements in the THORChain network, we can say that 2022 is a good year for RUNE. For this reason, the bullish price prediction of THORChain in 2022 is $13.80. On the other hand, the bearish RUNE price prediction for 2022 is $2.149.
Furthermore, with the advancements and upgrades on the RUNE ecosystem, the performance of RUNE would help to reach above its current all-time high (ATH) $250 very soon. But, it might also reach $15 if the investors believe that RUNE is a good investment in 2022.
FAQ
THORchain is an independent blockchain created using the Cosmos SDK, which acts as a cross-chain decentralized exchange (DEX).
RUNE has listed on many crypto exchanges which include Binance, FTX, CoinTiger, Bybit, and Mandala Exchange.
With the ongoing developments and upgrades within the RUNE platform, it has a high possibility of reaching its ATH soon.
On May 19, 2021, RUNE reached its new all-time high (ATH) of $20.87.
THORChain (RUNE) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of RUNE in the past few months, RUNE is considered a good investment in 2022.
THORChain (RUNE) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then THORChain (RUNE) will hit $15 soon.
THORChain (RUNE) price is expected to reach $25 by 2023.
THORChain (RUNE) price is expected to reach $32 by 2024.
THORChain (RUNE) price is expected to reach $40 by 2025.
THORChain (RUNE) price is expected to reach $50 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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