- Bullish RUNE price prediction for 2023 is $1.785 to $2.275.
- THORChain (RUNE) price might reach $5 soon.
- Bearish RUNE price prediction for 2023 is $1.221.
In this THORChain (RUNE) price prediction 2023, 2024-2030, we will analyze the price patterns of RUNE by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
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TABLE OF CONTENTS |
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INTRODUCTION |
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THORCHAIN (RUNE) PRICE PREDICTION 2023 |
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| THORCHAIN (RUNE) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
THORChain (RUNE) Current Market Status
| Current Price | $1.72 | 24 – Hour Price Change | 5.38% Up |
| 24 – Hour Trading Volume | $48,762,428 |
| Market Cap | $583,244,886 |
| Circulating Supply | 339,353,830 RUNE | All – Time High | $21.26 (On May 19, 2021) |
| All – Time Low | $0.007939 (On Sep 27, 2019 ) |
What is THORChain (RUNE)
| TICKER | RUNE |
| BLOCKCHAIN | THORChain |
| CATEGORY | Decentralized Exchange |
| LAUNCHED ON | 2019 |
| UTILITIES | Governance, security, gas fees & rewards |
THORChain (RUNE) is the native utility token of the THORChain platform. THORChain is a cross-chain decentralized liquidity protocol. The project was born out of a hackathon that commenced in 2018. Its native token, RUNE, was first launched as a BEP-2 token and then later on as an ERC-20 token in 2019.
THORChain is built on Cosmos SDK and Tendermint protocol and uses a proof-of-stake (PoS) consensus mechanism. It also includes its native decentralized exchange (DEX) that enables users to swap tokens across different blockchains. THORChain DEX aids the inclusion of automated market makers (AMMs).
THORChain (RUNE) is used in staking, trading, security, and governance and is provided as reward to users.
THORChain 24H Technicals
(Source: TradingView)
THORChain (RUNE) Price Prediction 2023
THORChain (RUNE) ranks 60th on CoinMarketCap in terms of its market capitalization. The overview of the THORChain price prediction for 2023 is explained below with a daily time frame.
RUNE/USDT Right Angled Descending Broadening Wedge Pattern (Source: TradingView)
In the above chart, THORChain (RUNE) laid out a right-angled descending broadening wedge pattern. A right-angled descending broadening wedge is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.
At the time of analysis, the price of THORChain (RUNE) was recorded at $1.72. If the pattern trend continues, then the price of RUNE might reach the resistance levels of $1.976, and $5.025. If the trend reverses, then the price of RUNE may fall to the support of $1.212, and $0.776.
THORChain (RUNE) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of THORChain (RUNE) in 2023.
RUNE/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of THORChain (RUNE) for 2023.
| Resistance Level 1 | $1.785 |
| Resistance Level 2 | $2.275 |
| Support Level 1 | $1.467 |
| Support Level 2 | $1.221 |
RUNE Resistance & Support Levels
THORChain (RUNE) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of THORChain (RUNE) are shown in the chart below.
RUNE/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current THORChain (RUNE) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $1.715Price = $1.633 (50MA > Price) |
Bearish(Downtrend) |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 45.933 <30 = Oversold 50-70 = Neutral>70 = Overbought |
Nearly Oversold |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak Volume |
THORChain (RUNE) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of THORChain (RUNE) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
RUNE/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of THORChain (RUNE).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 6.831 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 42.27
<50 = Low |
Low Volatility |
Comparison of RUNE with BTC, ETH
Let us now compare the price movements of THORChain (RUNE) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs RUNE Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of RUNE is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of RUNE also increases or decreases respectively.
THORChain (RUNE) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of THORChain (RUNE) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| THORChain (RUNE) Price Prediction 2024 | $7 | $1.2 |
| THORChain (RUNE) Price Prediction 2025 | $10 | $1.1 |
| THORChain (RUNE) Price Prediction 2026 | $12 | $1 |
| THORChain (RUNE) Price Prediction 2027 | $15 | $0.9 |
| THORChain (RUNE) Price Prediction 2028 | $17 | $0.7 |
| THORChain (RUNE) Price Prediction 2029 | $18 | $0.5 |
| THORChain (RUNE) Price Prediction 2030 | $20 | $0.4 |
Conclusion
If THORChain (RUNE) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish THORChain (RUNE) price prediction for 2023 is $2.275. Comparatively, the bearish THORChain (RUNE) price prediction for 2023 is $1.221.
If there is a positive elevation in the market momentum and investors’ sentiment, then THORChain (RUNE) might hit $5. Furthermore, with future upgrades and advancements in the THORChain ecosystem, RUNE might surpass its current all-time high (ATH) of $21.26 and mark its new ATH.
FAQ
1. What is THORChain (RUNE)?
THORChain (RUNE) is the native utility token of the THORChain platform. THORChain is a cross-chain decentralized liquidity protocol.
2. Where can you buy THORChain (RUNE)?
THORChain (RUNE) has been listed on many crypto exchanges which include Binance, Kucoin, Kraken, Gate.io and Bybit.
3. Will THORChain (RUNE) record a new ATH soon?
With the ongoing developments and upgrades within the THORChain platform, THORChain (RUNE) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of THORChain (RUNE)?
THORChain (RUNE) hit its current all-time high (ATH) of $21.26 on May 19, 2021.
5. What is the lowest price of THORChain (RUNE)?
According to CoinMarketCap, RUNE hit its all-time low (ATL) of $0.007939 on Sep 27, 2019.
6. Will THORChain (RUNE) hit $5?
If THORChain (RUNE) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $5 soon.
7. What will be the THORChain (RUNE) price by 2024?
THORChain (RUNE) price might reach $7 by 2024.
8. What will be the THORChain (RUNE) price by 2025?
THORChain (RUNE) price might reach $10 by 2025.
9. What will be the THORChain (RUNE) price by 2026?
THORChain (RUNE) price might reach $12 by 2026.
10. What will be the THORChain (RUNE) price by 2027?
THORChain (RUNE) price might reach $15 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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- Source: https://thenewscrypto.com/thorchain-price-prediction/
