THORChain (RUNE) has experienced price volatility recently, with movements observed throughout 2021, 2023, and 2024. However, as we move into 2025, THORChain shows signs of a potential bullish breakout.
The price of RUNE, which has been hovering around the $2.00 range in recent months, is on the verge of a surge. Some analysts predict the token could rise to the $10 mark by the end of the year. Here’s a breakdown of the price movement and key indicators driving this potential rally.
RUNE saw a rise in 2021, surpassing $20 before encountering a steep downturn. The price faced significant resistance, staying below $10 throughout most of 2023 and into 2024.
The downtrend period led to a market consolidation phase. During the latter half of 2024 and early 2025, THORChain remained stable in the $2-$3 price range.
Market consolidation and support zones
The price consolidation around $2.00-$3.00 in late 2024 was a critical phase for THORChain, as it allowed for forming a support zone. This accumulation zone suggests market participants have positioned themselves for a price breakout.
In early 2025, RUNE began showing signs of bullish momentum, with an increasing price and a shift in market sentiment. The presence of this support zone is significant, as it often marks the base from which strong price increases can occur.
Bullish indicators and technical analysis
RUNE’s recent price movement has been characterized by a sharp incline, breaking through resistance levels that had held firm for much of 2024. The 20-period Exponential Moving Average (EMA) also shows a change in trend. After a downward slope throughout 2023, the price’s recent upswing indicates a reversal in market sentiment, moving towards a bullish outlook.
Regarding short-term technical analysis, the Moving Average Convergence Divergence (MACD) indicator shows bearish momentum. The MACD line remains below the signal line, suggesting that downward pressure is still present.
But that doesn’t necessarily mean that a longer-term bullish outlook is not there. Relative to this, the Relative Strength Index (RSI) shows a neutral market as it is, with neither the bulls nor the bears fully in control. At the moment, the RSI stands at 45.00.
