THORChain Resumes Trading Services After Security Review Completion

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

XMR-2.98%

RUNE+0.477%

ZEC-7.765%

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Trading Service Restoration: THORChain has resumed full trading services after over five weeks of security reviews, marking a significant milestone for the decentralized cross-chain liquidity protocol, allowing users to move assets between supported blockchains once again.
Security Review Outcomes: The restoration followed the identification of an exploit that drained approximately $10.7 million from one Asgard vault; however, the remaining five vaults were unaffected, demonstrating the protocol's commitment to security.
New Feature Development: In addition to restoring existing services, THORChain is developing new network upgrades, including successful testing of Monero swaps and ongoing support for Zcash, aimed at enhancing trading efficiency and liquidity.
Market Reaction: Despite the trading service restoration being a significant operational milestone, RUNE token showed little immediate market reaction post-announcement, indicating limited short-term market interest in this news.

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Technical Analysis for XMR

Technical Sentiment Analysis for Monero (XMR). As of , Monero (XMR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XMR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XMR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Monero (XMR) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	208.456	254.228	291.446	337.218	374.436	420.208	457.426
Fibonacci	254.228	285.93	305.516	337.218	368.92	388.506	420.208

About XMR

Monero was launched in 2014, and its goal is simple: to allow transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography.The team behind Monero say privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users — irrespective of how technologically competent they are.Overall, XMR aims to allow payments to be made quickly and inexpensively without fear of censorship.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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