The Rune price forms Giant Bear flags as a tournament on Thorcain Volums

Thorchain token flashes the bear signal, forming a flag bearing form that suggests further and tan overpayments.

Thorcain (Run) It trades of $ 1,3050 on Friday, 82% of its homepage. It floats near its lowest level from November 2023. And remains 90% below its all time.

The rune strayed despite third party data showing that the network recently recorded one of the best weeks ever. Replacing the replacement on the platform increased by 640% in the last seven days to $ 3.3 billion, which makes it sixth largest players in a decentralized exchange industry.

Additional information from Tokenterminal It shows that weekly active addresses are almost abolished at 5,000, above this month low from 1,000.

However this increase in activity is related to recent Bibit Hack. According to Arkham, Lazarus Group transferred over $ 240 million Ethers through the net. The group was washed stolen Etherum (El) By converting to Bitcoin (Btc).

Spike in quantity comes as a grape thorchain with great challenges. In January, the company paused Etherum and Bitcoin Credit after her obligations exceeded $ 200 million.

On Friday, Pluto, Core Developer online, announced his resignation After the vote for the blocking of northern Korean hacker transactions failed.

These transactions could initiate an investigation into American authorities, including the Federal Investigation Office. Earlier this week, the FBI confirmed that Lazarus was behind Kubit Hack.

Rune price at risk of a large break

The weekly graph shows that the price of Throchain was in the steep trend, because it is peak to $ 7.50 in December. The decline followed the formation of heads and shoulders, a well-known bearing indicator of the abolition.

The rune fell under the 50-week and 25-weekly exponential average average, as well as a key level of support at 2,5560 dollars, its lowest swinging since September 2023. years.

And now, Runa forms a flag bear pattern, a typical bear signal of continuation. Further interruption could be confirmed if the price drops below the critical support level to $ 0.7790, its lowest point 2023. Years.