THORchain Price Prediction: Rune Price Struggles To Rise Above $1

THORchain price is currently trading at $0.981 while witnessing a loss of 2.49% during the intraday session.

Rune price has positively crossed above the 20-day EMA.

The year-to-date change in Rune is -22.37%.

Rune price has been in a bearish trend since the start of February after reaching the annual high at $1.972. In March, the cryptocurrency price formed a support level at $1.21 and initiated a bullish rally to retest the annual high. The move was stalled at $1.70 due to the presence of bears in the market.

This triggered a drop in the price and it gained enough bearish momentum to wreck the support level of $1.21, after which the price entered into a wide consolidation zone ranging between $1.07 and $1.21