While the global crypto market is falling, THORChain, the liquidity protocol native token RUNE, rose 15% in 24 hours from $5.35 to $6.10, ranking first.
Trading between $4.95 and $5.54 all week, the token was stable. RUNE bulls recovered impetus as crypto market volatility increased and large-cap altcoins grabbed the decline, pushing its price up 21% in seven days.
A 39% fall to $4.39 followed RUNE’s failure to break the $7.23 resistance level, but it stabilized. It struggled to stay over $4.85 due to volatility.
RUNE then oscillates between $4.87 and $5.76, nearing resistance. THORChain has a $1.98 billion market cap and traded at $5.93. RUNE trading volume rose 74% to $593 million daily.
RUNE will approach $6.50 resistance if THORChain continues its bullish climb. A break above $6.55 might lead to advances to $6.81 and $7.34.
Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.
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