THORChain's RUNE Token Plunges After $10M Exploit

THORChain's native token RUNE cratered over 10% today following a brutal $10 million exploit that forced a network-wide trading halt, as hackers drained liquidity pools in a sophisticated attack reminiscent of last quarter's DeFi breaches. Traders dumped holdings en masse, amplifying losses in an already volatile crypto market crash environment where Bitcoin (BTC) hovers near key supports, raising alarms for broader sector contagion and RUNE price prediction models that eyed $1 recovery just weeks ago.

On the 4-hour chart, RUNE sits at $0.54, grinding through a confirmed bearish trend with the EMA50 at $0.58 acting as immediate overhead resistance and the EMA200 at $0.51 providing fragile long-term support below. Momentum screams oversold with RSI(14) at 28.1, yet the MACD death cross at -0.01 signals sustained downside pressure, as price breaches the lower Bollinger Band support at $0.56—hinting at volatility exhaustion but warning of deeper capitulation unless buyers defend this confluence zone, potentially eyeing a rebound toward upper resistance at $0.63 if sentiment flips amid THORChain exploit resolutions.