THORChain Price Prediction: 2024, 2025, 2030

RUNE price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly chart, $0.9 was established as the lowest support.
• $19 can likely prove to be a significant barrier to an uptrend.

2. Market sentiment

• In May 2024, the market sentiment has been observed to be slightly bullish.

3. Predictive forecasts

• Future forecasts from our AI/ML algorithms project RUNE to trade at an average price of $100 in 2027 and $1,000 in 2030.

Stay informed on RUNE’s future trajectory via an extensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

RUNE technical analysis: Price pumps as the broader market bleeds

So far, 2024 has been an exceptional year for crypto, with major altcoins recording massive gains and then subsequently shedding them. Nonetheless, RUNE’s recent movements point to it taking an alternative route. This prompts a detailed look at THORChain's price prediction in 2024 and beyond.
 

At the outset, RUNE underwent a depreciation that pushed its valuation below the critical $1 mark. By June, the lowest support at $0.9 was compromised. However, the buyers regrouped and stabilized the price over this level. After a brief rest, the bulls elevated the price to test $1.8. The rally lacked sufficient strength to stay decisively above this level.
 

The market dynamics shifted favorably in October, supported by a string of positive developments within the ThorChain ecosystem. According to AMBCrypto’s report, the network saw a record-high monthly trading volume of $3 billion, a 51% increase in decentralized finance (DeFi) Total Value Locked (TVL), and a surge in the value of its native token by over 45%. 

This growth propelled RUNE to test the upper resistance level at $7.2. Nevertheless, the market soon experienced a correction due to overextended conditions. By mid-January, buyers managed to stop a reversal by holding $4.2 as a base. This was used as a springboard to initiate another rally in February.

Thereafter, a considerable price pump in March flipped $7.2. This surge was triggered by ThorChain’s move to burn 60 million RUNE tokens from its Standby Reserve. This action, which reduced the token's overall supply by 12%, aimed at expanding the network’s lending capabilities.

Following this development, RUNE reached a new peak barrier at $9.5. During this period, the network surpassed its previous benchmarks by achieving a total monthly trading volume exceeding $10 billion for the first time.

Despite this achievement, the token faced a significant sell-off the following month due to its overbought status. The broader market downturn amplified the losses. Consequently, RUNE dropped below $7.2 before finding strong support at $5.1. 

As the calendar turned to May, the price recovered slightly despite a generally stagnant market environment. At press time, the asset traded at $6.5. This was buoyed by the launch of THORNode v132, which introduced several enhancements, including better loan closure execution and reduced transaction fees on the layer-1 network. These improvements, along with ongoing Quality of Life updates, could further fuel the uptrend.

This momentum can push RUNE past the peak chart barrier, setting $11 as the next target. A lasting bull run can even see it revisit its all-time high (ATH). However, that would necessitate overcoming a significant barrier at $19.

Our predictive models suggest a prolonged bullish outlook for RUNE. According to these projections, the token is expected to trade at an average price of $100 by 2027. By 2030, the models are even more optimistic, estimating that the asset could reach an average trading price of $1,000. This substantial increase is likely predicated on continued positive developments within the ThorChain ecosystem, such as enhancements in network capabilities, expansions in DeFi utility, and broader adoption of its technology.

Meanwhile, if the bears take hold, the current support would become a target for them. If it falters, $4.2 can once again prove its resilience to hold off declines. Given that this level is compromised, the price can tumble close to $3.3, turning the trend bearish.

RUNE's 2024 roadmap: Key indicators to watch and trade

• The Awesome Oscillator (AO) crossed the zero line in late August. The momentum gained strength in November, followed by a loss of positive values in the subsequent month. 
• This pattern repeated in mid-February. At the time of this analysis, the AO had decreased to 0.394. This represented a brief loss of bullish strength.
• The price flipped the 20 Exponential Moving Average (EMA) into a support level by August. Between September and October, the price showed modest increases above the 50 EMA before making a decisive move above this average in late October. This movement culminated in a golden cross formation in November, signaling a sustainable bullish trend.
• By the latter half of January, the price approached the 20 EMA but soon picked up the pace. However, a downturn in Q2 2024 caused the price to dip momentarily below the 20 EMA. As the analysis concluded, the price had slightly moved above it again. It hinted at a resurgence of buying momentum.
• After remaining low for the initial three months, trading volume surged in line with the uptrend. Although rejections saw a slight downtick in volume, it did not fall to initial lows. This suggested sustained interest and activity in the market.