-8.89% for THORChain as sharp price swings test $0.3567 support

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THORChain drops 8.89% today

Highlights

RUNE/USD trades below key moving averages, reflecting persistent bearish pressure across short-, medium-, and long-term trends.
Technical indicators present a mixed picture, with negative momentum but signs of intraday buying amid high volatility.
RUNE/USD is forecast to range between $0.3567 and $0.3813 in the next 2–3 sessions, with a 68% probability favoring further downside.

Mixed technical signals amid resistance and high volatility

RUNE/USD is trading below the MA-20 at $0.3766, MA-50 at $0.3894, and MA-200 at $0.5062. The Ichimoku Kijun is at $0.3800, currently acting as immediate resistance. Momentum indicators provide mixed signals: MACD and ADX show sell signals, RSI at 42.85 implies a mild bearish bias but not yet an oversold condition, while Stoch RSI flags overbought territory. CCI registers as neutral, BBP displays strong buy momentum intraday, and AO remains neutral, highlighting divergence among technical readings with high volatility.

Range-bound trading likely as downside risk prevails

Over the next 2–3 trading days, RUNE/USD is expected to fluctuate between $0.3567 and $0.3813, representing a typical volatility band relative to current levels. Scenario analysis gives a 68% probability to a further downward move and 32% to the upside. The baseline outlook anticipates the price holding within this range, with a bullish breakout contingent on clearing resistance at $0.3800 and a bearish extension if support at $0.3567 fails.

Anton Kharitonov, expert at Traders Union, notes that THORChain (RUNE) remains under pressure, with price trading below major moving averages and immediate resistance at $0.3800. He sees mixed signals from momentum indicators and ongoing high volatility, suggesting an uncertain technical backdrop. The analyst remains cautious due to the stronger downside probability and divergence among signals. "Base case remains rangebound between $0.3567 and $0.3813 — any bullish attempt requires a clear break above $0.3800 first," Kharitonov says.

Earlier, analysts noted that THORChain was experiencing persistent bearish momentum and sustained downside risk. The latest data reinforces this outlook, with heightened volatility and mixed momentum signals underscoring the importance of monitoring the $0.3800 resistance and $0.3567 support levels for signs of a decisive move.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.