RUNE has taken support from a crucial level.
Token is facing strong resistance near 50 EMA.
If 2021 was a good year for crypto, 2022 had been a nightmare, and RUNE has had to follow the market as a whole over time. Although it rose throughout March, reaching a high of $13.15 on March 31, things began to fall apart. Following a series of market crashes, it reached a low of $1.45 on June 18, 2022. Following this, there was some recovery, and it was valued $3.14 on August 11, 2022. It was then time to go down again, and a slump turned into a crash when the FTX (FTT) exchange collapsed, causing it to fall below $1.01 on November 9th. After that, there was some recovery and, as of 5 January 2023, it was worth about $1.34.
THORchain (RUNE) on the the daily chart
Source: TradingView
RUNE is now trading at $1.34 after bouncing off the support. It is now trading below its 50 and 200 EMA moving averages. (Red line is 50 EMA and the blue line is 200 EMA). As we can see, the token is now enco
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