THORChain Price Prediction – Will RUNE Price Hit $20 in 2021?

This THORChain (RUNE) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our THORChain price analysis and prediction.

Over the past few days, the crypto market looks to be recovering fast. Moreover, after the dip in the past two months, the crypto market either remains stable or surges steadily. At present, it looks like the crypto asset industry will surge high again.

Will THORChain experience the same price volatility? We’ll find out soon in this THORChain price analysis 2021 article. But first, let’s have a look at what THORChain is.

What is THORChain (RUNE)?

THORCHain is a decentralized liquidity protocol that enhances users to easily exchange digital assets over a range of networks without losing full custody of the assets in the process. Moreover, with THORChain, crypto users can simply swap one asset for another in a permissionless way, without relying on order books to source liquidity. Rather, market prices are maintained via the ratio of assets in a pool.

More so, RUNE is the native utility token of the THORChain platform. However, it is utilized as the base currency in the THORChain ecosystem. Notably, the platform is utilized for governance and security as part of THORChainl’s Sybil resistance methodology. This is because the THORChain node has to perform a minimum of one million RUNE in order to participate in its process of rotating consensus.

Through an initial DEX offering (IDO), THORChain is funded which is launched via the Binance DEX in July 2019. In addition, its mainnet originally started in January 2021, however a multi-chain upgrade is presently scheduled for 2021.

Now that we are clear about RUNE do you think RUNE will be beneficial crypto in 2021? Join me and let us see the charts in this RUNE price analysis and RUNE price prediction.

THORChain (RUNE) Current Market Status

As of the time of writing this THORChain price analysis, RUNE trades at $8.43 with a 24-hour trading volume of $189,851,916. The price of RUNE has increased by 14.11% in the last 24 hours. Currently, the top cryptocurrency exchanges for RUNE are Binance, FTX, Tokocrypto, CoinTiger, and HitBTC. Now, let’s go to the next part of this RUNE technical analysis for 2021.

That said, is THORChain a good cryptocurrency to invest in 2021? Let’s find out in this RUNE price prediction 2021 article.

THORChain (RUNE) Price Analysis 2021

Currently, RUNE holds 60th place on CoinGecko. But will the latest upgrades, development, and changes in the RUNE blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this RUNE price prediction article.

In the chart above, which is set in a daily time frame, we can see the Ascending Channel Trend pattern. An ascending channel is the price action that takes place in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. Moreover, this pattern represents a short-term bullish.

As shown above, at the beginning of this month, RUNE turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is at 65.64, which means that RUNE is in a nearly overbought state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of RUNE.

Since the start of 2021, RUNE’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, RUNE has a competitive market this 2021.

THORChain (RUNE) Price Prediction 2021

The chart below shows that RUNE has performed great over the past few days. Moreover, the RUNE price shows a bullish trend. If this trend continues, RUNE might run along with the bulls, overtaking its $14.93 resistance level and move even higher to $19.4.

Conversely, if the investors turn against the crypto, the bears might take over and push RUNE from its uptrend position. In simpler terms, the price of RUNE might decrease to almost $5.6, a bearish signal.

Meanwhile, our long-term RUNE price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

THORChain (RUNE) Price Prediction 2022

If this bullish trend continues, RUNE will reach $35 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $40. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $35 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

THORChain (RUNE) Price Prediction 2023

If RUNE holds the support level around 200-MA, the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $55, making it not plummet but play consistently.

THORChain (RUNE) Price Prediction 2024

As per the latest upgrades, developments, RUNE price prediction, and new project forecasts of the platform, RUNE investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of RUNE in the crypto market, and it will be the best investment as the price can spike and reach around $80.

THORChain (RUNE) Price Prediction 2025

In the next four years, RUNE prices could race up to $95. However, reaching this level could not be so difficult for RUNE as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that RUNE has a high possibility of reaching new ATH soon in the next five years as per the prediction.

Conclusion

THORChain has a bright future ahead of it in 2021. With the ongoing developments happening within the RUNE ecosystem, as well as in the overall crypto market, we may see RUNE reach new heights.

Bullish RUNE price prediction 2021 is $19.4. As said above, it may even reach its new ATH if investors have decided that RUNE is a good investment in 2021, along with mainstream cryptocurrencies.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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