RUNE Rises by Over 15%, as FTM and AVAX Trend Lower – Market Updates Bitcoin News

Thorchain (RUNE), which rose to the highest point since January, was due to cryptocurrency markets starting the week mostly in red. Avalanche, (AVAX), was another cryptocurrency that traded lower Monday. Fantom (FTM), also fell close to 10% during the day.

Thorchain (RUNE).

Although cryptocurrency markets are generally lower in the last week, RUNE (thorchain) has increased by nearly 70% during that time.

After a Sunday low of $6.15, the RUNE/USD index climbed to $6.60, its resistance, to begin the week. It also reached its highest point since January 12, at $6.15.

On Monday, RUNE hit an intraday high of $7.43, pushing the cryptocurrency to #47, in the market’s top 100.

As the Relative Strength index soared past its current ceiling of 65, this was the most significant change since November.

If this upward momentum continues, RUNE could reach the $9.05 ceiling, possibly on the way to $10.

Fantom (FTM).

Avalanche, (AVAX), was nearly 6% down to open the week. It continues to hover under the crypto top 10, presently sitting at the #11 position.

However, it was fantom (FTM) that was today’s most notable bearish mover, falling by close to 10% as a result of today’s action.

FTM was down 8.35% as of this writing, because prices dropped to their lowest point in September after five consecutive days.

FTM/USD fell earlier Monday to $1.08, after a peak at $1.20 just 24 hours prior.

This happens because price strength is totally oversold. In fact, the 14-day RSI has fallen to 30.9. It is at its lowest point since December 13.

Do you think a rebound is possible given the bearish mood? Comment below to share your views.

Eliman Dambell

Eliman has a broad perspective on market analysis. He is a former brokerage director and retail trading teacher, and he can also be a market commentator for Crypto, Stocks, and FX.