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Huobi stops operating in Thailand under pressure from regulators



  • Thorchain (RUNE) price seems to be on a sideways near 90-day low with a roller-coaster ride.
  • With reference to the daily price chart, RUNE price is trading below important exponential moving averages such as 20, 50, and 100.
  • The RUNE token is trading up 5.2% in the red zone with the bitcoin pair at 0.00009199 Satoshis.

As the market leaders of Bitcoin (BTC) are struggling for a pump and dump position as the bulls managed BTC price above $30K in the first intraday trading session (today) but by evening again bears on BTC. was dominion; As a result, the rest of the altcoins started going down.

Similarly, Thorchain (RUNE) token is also struggling to weather the selling pressure, hence, the price of RUNE is near a 90-day low with a roller-coaster ride.

In the daily price chart context, the bears are forming an important defense area near the downsloping trendline (dashed white). But the bull again failed to break this bullish barrier. Although the trading volume is down by 40% compared to the previous night, so this could be the reason for the failure.

Meanwhile, as long as the RUNE price stays below this horizontal resistance, buyers continue to fight for a selloff. At the time of writing, the RUNE token was trading at the $2.7 mark during the retracement phase.

Thus the market cap as per CMC data is present at $909 million, down 5.7% in the last 24 hours. Furthermore, the RUNE token is trading up 5.2% in the red zone with the bitcoin pair at 0.00009199 Satoshis.

Bulls need to push RUNE price above 20 EMA

Source: RUNE/USDT by Tradingview 

The 20 EMA is an important area for any directional trend as the token follows a bullish trend above this area, meanwhile, over a month later the 20 EMA has become an important resistance area where buyers have received multiple rejections.

According to the daily RSI, there is no chance of a bullish tune pushing the price above the 20 EMA unless it moves above the semi-line (50 points).


RUNE investors need to wait for the confirmation of the directional trend above the 20 EMA for any bullish opportunity. But the $5.0 mark cannot be ignored due to the resistance area.

Support level – $3.8 and $3.0 

Resistance level – $4.0 and $7.5


The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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