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Biggest Movers: The RUNE Index Rises by More Than 15% as AVAX and FTM Trend Lower

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

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Biggest Movers: The RUNE Index Rises by More Than 15% as AVAX and FTM Trend Lower

Thorchain (RUNE).

Although cryptocurrency markets have been mostly lower in the last week, thorchain has increased by nearly 70% during that time.

After a Sunday low of $6.15, RUNE/USD climbed to $6.60 to begin the week. This is its highest level since January 12.

Monday's intraday high for RUNE was $7.43. This pushed the cryptocurrency to #47 in the market's top 100.

This was just as the Relative Strength Index soared above its ceiling of 67 for the 14-day period. It had not done so since November last year.

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

Fantom (FTM).

Avalanche (AVAX), which was almost 6% lower to begin the week, remained below the crypto top 10 and still resides at the #11 spot.

Today's bearish mover was however fantom (FTM), which fell by almost 10% due to today's action.

FTM is currently down 8.35% as of this writing, after prices plunged to their lowest point since September following five days of weakness.

FTM/USD dropped to $1.08 on Monday after a peak of more than $1.20 24 hours ago.

This is because price strength is totally oversold. The 14-day RSI is currently at 30.9. It is the lowest level it has been at since December 13.


 

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