THORChain climbs 7.98% as price holds above short-term averages

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THORChain gains 7.98% today to $0.406

Highlights

RUNE/USD shows strong short- and medium-term bullish momentum, trading above key moving averages, though long-term resistance remains in effect.
Momentum indicators are firmly bullish with MACD, ADX, and intraday price action confirming active buying strength, despite overbought signals and volatility.
Expected price range for the next trading day is $0.3890 to $0.4410, with a high probability of further gains and low risk of reversal barring a break of immediate support.

Bullish momentum accelerates amid overbought signals and support test

On the hourly chart, RUNE/USD is positioned above the MA-20 at $0.3873 and MA-50 at $0.3856, while remaining below the MA-200 at $0.4898. The Ichimoku Kijun line at $0.3855 defines the immediate support level. Momentum indicators are strongly bullish: both MACD and ADX reflect continued buying strength. RSI stands at 66, with CCI and Stoch RSI registering in overbought territory, signaling heightened enthusiasm but also increased risk of a near-term pullback. BBP measurements indicate buyers continue to dominate intraday activity, with the Awesome Oscillator supporting ongoing upward price action.

Consolidation favored as support holds and breakout risks linger

For the next trading day, the expected price range for RUNE/USD is set between $0.3890 and $0.4410, encapsulating the typical volatility band relative to current levels. The base scenario anticipates sideways consolidation within this range, while an upward break could see price testing the upper boundary. A deeper retracement becomes more likely only if the market drops below immediate support.

Viktoras Karapetjanc, expert at Traders Union, sees strong short-term momentum in THORChain (RUNE) driven by active market participation. He notes bullish signals across key momentum indicators and observes buyers dominating intraday activity. However, the price remains below major long-term trend levels and overbought conditions suggest elevated pullback risk. Karapetjanc maintains a constructive outlook as long as support holds. "RUNE is showing notable strength, and with buyers in control for now, I expect consolidation above key support while watching for a breakout toward $0.4410."

Earlier, analysts noted that THORChain’s improving technical momentum and protocol developments suggested a bias toward continued recovery. The latest surge in price and persistent bullish signals reinforce this positive outlook, making intraday volatility around the current trading range a critical factor for near-term positioning.

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.