THORChain price jumps as token buying pressure builds

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Thorchain surges 11.00% today to $0.464

Highlights

THORChain experienced a multi-chain exploit on May 15, resulting in $10.8 million losses across 12,847 user wallets on four networks.
Emergency protocols halted chain activity, refunds are available until June 4, and law enforcement is engaged for asset recovery.
RUNE/USD trades below major moving averages with sellers dominating, expected to fluctuate between $0.43 and $0.51 over the next five days.

Multichain exploit triggers emergency halt and refund process

On May 15, 2026, THORChain suffered a multi-chain exploit resulting in losses totaling approximately $10.8 million, impacting 12,847 wallets across Bitcoin, Ethereum, BNB Smart Chain, and Base networks. The attacker exploited a vulnerability in the GG20 threshold signature scheme via a newly joined validator node, prompting THORChain to initiate an emergency protocol halt and suspend key signing to contain the breach. A recovery portal now allows affected users to claim treasury-backed refunds until June 4, with the treasury team working with blockchain analytics firms and law enforcement to recover the stolen assets.

Anton Kharitonov, expert at Traders Union, sees persistent downside risks in THORChain (RUNE) despite today's 11% price rally. He notes that the asset remains below its 20-, 50-, and 200-day moving averages, suggesting sellers dominate across all timeframes. Kharitonov highlights the impact of the recent $10.8 million multi-chain exploit, which has deeply damaged user trust and exposed structural vulnerabilities. Technical indicators like the negative Bull/Bear Power and oversold oscillators warn of further weakness, while the MACD's positive reading is contradicted by other signals. "Despite a short-term bounce, the overwhelming technical and fundamental pressures keep RUNE in a vulnerable position for the week ahead," he concludes.

Viktoras Karapetjanc, expert at Traders Union, believes the recent sell-off and exploit event are temporary setbacks in the broader evolution of THORChain. He observes that the project’s swift recovery plan, including treasury-backed refunds, demonstrates robust risk management and commitment to its user community. Karapetjanc highlights that oversold technicals and ongoing law enforcement cooperation create an opportunity for long-term investors as market confidence rebuilds. Noting the strong intraday price recovery, he remains constructive on the protocol’s future. "With user protection measures in place and oversold conditions, I expect the bullish structure to reassert itself and further growth opportunities to emerge soon," he says.

Parshwa Turakhiya, analyst, sees a market in transition following the exploit and subsequent price rebound. He points out mixed signals, with intraday volatility and gap-up gains offering tactical setups but oscillators warn against chasing momentum. Turakhiya notes that the sideways corridor between $0.43 and $0.51 provides a chance for nimble traders, while uncertainty surrounding news-driven sentiment remains elevated. "I would look for short-term range-trading opportunities, staying reactive to volatility and watching for a decisive breakout from the narrow forecast range," he comments.

Seller dominance persists as mixed signals and oversold readings emerge

RUNE/USD is trading below the 20-day and 200-day simple moving averages ($0.5429 and $0.5391), and only fractionally below the 50-day ($0.4683), which highlights persistent pressure from sellers across short-, medium-, and long-term setups. Dynamic resistance is now seen at the Ichimoku Kijun level ($0.5235), while support is likely near the 50-day moving average. Momentum signals are mixed: MACD gives a Strong Buy, but the Average Directional Index (ADX) D1 signals a prevailing downtrend. Several oscillators show oversold conditions, including the Relative Strength Index (RSI) at 34.8, Stochastic RSI at 0.0000, and the Commodity Channel Index (CCI) at -164.8. Bull/Bear Power (BBP) remains negative at -0.0483, so sellers still dominate intraday momentum, which is consistent with the oversold setup. The Awesome Oscillator is neutral and does not confirm the present direction. The price has surged 11% today, showing an upside gap of roughly $0.018 at the open. RUNE/USD is now trading near the day’s high, with intraday volatility at 7.39%. The intraday tone points to strength toward session highs, though several oscillators diverge and call for caution against chasing upside moves too aggressively.

Earlier, analysts noted that THORChain faced persistent selling pressure and heightened volatility, with sentiment undermined by a major protocol exploit and trading halt. The latest developments reinforce this bearish setup, and traders should monitor whether selling resumes near $0.51 resistance or if downside pressure accelerates below the key $0.43 support.

Source of Data: RUNE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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