TradeCityPro | RUNE: Navigating Key Levels and Momentum Insights

👋 Welcome to TradeCity Pro! In this analysis, I want to examine the RUNE coin for you. This coin is the official project token of Thorchain and is active in the DeFi and Cosmos ecosystem.

📅 Weekly Timeframe: Hidden Trendline
In the weekly timeframe, we observe a hidden trendline that has formed from the ATH, and now, during its bullish trend corrections, the price is reacting to this trendline.

🔍 After the price reached a low of $0.817, as you can see, the buying volume significantly increased, and the price moved up to the area of $7.391, forming a range box between this area and $3.028. The ceiling at $7.391 had a fake breakout once, and in recent weeks, the price has been rejected from the $7.391 ceiling again.

✨ Currently, the price has touched the support at $3.028 again. If this area breaks, a double top could be activated with a target of $1.269. If the RSI breaks below 35.82, the likelihood of this scenario will increase.

🔽 If there is further correction and the $3.028 support breaks, the first important area would be the hidden trendline, and the next areas in order would be $2.037, $1.269, and $1.817. There are other areas in between, but these are the strongest levels on this chart.

🛒 For buying in spot or long-term long positions, the first trigger is breaking $7.391, which seems like a very suitable trigger. If this area is broken, the price could potentially move at least to its ATH, which is $19.816. If the ATH is broken, I will update the analysis to find the next targets.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️