RUNE Technical Analysis in a Weekly Timeframe

5 thg 9

Hello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

RUNE is one of the oldest Layer 1 projects with solid utility. The price recently faced rejection at the 50 EMA resistance and is now leaning toward the $3 support level.

This support is crucial for RUNE because a breakdown, followed by a weekly close below it, could push the price down to $1.2. For a bullish scenario, RUNE needs to rebound from the $3 support and break above the 50 EMA to test the resistance trendline around $7.4.

The RSI is nearing the oversold zone, suggesting there is still some room for the price to drop further.

Key Levels:

- Crucial Support/Accumulation: $3.
- Lower Support/Strong Buy: $1.2.
- Primary Resistance: 50 EMA & $7.4.
- Long-Term Target: $21.28.

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE