• RUNE trades at $2.64 with a 16.05% 24-hour surge.
  • RSI at 47.66 hints at neutral momentum; above 50 could signal a bullish shift.

THORChain’s native token, RUNE, is trading at $2.64, with a 16.05% surge in the past 24 hours. The market capitalization has grown by 15.79%, reaching $927.82 million. Trading volume in the same period has hit $677.02 million, marking a 6.72% increase. 

This brings the Market Cap ratio to a significant 73.86%, showcasing strong trading activity. The total supply of RUNE stands at 426.12 million, with 351.31 million tokens currently in circulation. The asset’s TVL is $203.25 million, resulting in a TVL ratio of 4.52.

Technical Indicators and Market Momentum

RUNE is currently facing a critical resistance level at $2.80. If the price successfully breaks above this level, it could rally toward the $3.20 mark. On the downside, strong support is present at $2.40. A failure to hold this level may lead to a bearish trend, with the price potentially dropping to $2.00. These levels make $2.40 and $2.80 pivotal zones for traders to monitor in the short term.

RUNE Shows Bullish Signs With Strong Market Activity image 0

The Relative Strength Index (RSI) is currently at 47.66, indicating a neutral trend. However, its 14-period moving average is lagging at 39.05, suggesting that momentum has just begun to improve. A rise above 50 in the RSI could confirm stronger buying interest, signaling a potential bullish reversal. Divergences between RSI and price action should also be monitored, as they often indicate upcoming shifts in momentum.

The Chaikin Money Flow (CMF) is positive at 0.06, indicating moderate capital inflows into RUNE. A higher CMF value would suggest sustained buying pressure, aligning with the improving RSI. However, traders should remain cautious if CMF dips below zero, as this would indicate a shift in momentum toward selling pressure.

Moving averages also provide valuable insight. A recent bullish crossover between the short-term and long-term moving averages suggests the possibility of continued upward momentum. Crossovers like these often precede rallies, especially when combined with increasing trading volume.

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