- RUNE Token price action breaks above a crucial resistance zone only to face another.
- The trading volume has grown 200% in the past day as it stands at $305 Million.
- The pair of RUNE/BTC is trading at 0.0001637 BTC with an intraday jump of +26.21%
RUNE Token price action gives a bullish breakout of the crucial resistance zone near the $9.5 mark in the daily chart. The recent price jump indicates that a bullish breakout has the support of a volume burst. In addition, the increase in intraday trading volume indicates a significant eruption in buying pressure.
Pivot point analysis has shown that the resistance levels of the token are at $11.5, following $13. Therefore, if the price drops below $9.5, sellers could face resistance at $7.0.
RUNE Token trades for $10.19 and has experienced a 22.26% rise in market capitalization within 24 hours. In addition, the intraday trading volume increased by 200% over the last day, which indicates that buyers are growing exponentially.
RUNE Token in the 4-Hour chart.
The RUNE token price action in the 4-Hour chart shows a dramatic bullish outgrowth. Moreover, the price breaks above the crucial resistance zone near the $9.5 mark. Hence, resulting in the formation of a big bullish engulfing candlestick. However, the price faces rejection near the $11 mark resulting in the retracement as a retest. Hence, traders may soon see the price rise back above the $11.5 mark. This daily chart shows that RUNE tokens are more expensive than any other EMAs. These EMAs might act as support and will also help keep underlying bullishness strong.
The RSI indicator implies a more comprehensive underlying bearishness while the slope surpasses 67% in the daily frame. The ADX indicator projects a boom in bullish momentum. It also indicates potential for a significant rise in momentum. The MACD indicator displays the fast and slower lines rising above the zero mark on a daily chart after the recent bullish crossover. Hence, resulting in a bullish signal.
Conclusion: RUNE Token believes that the trend towards technical bullishness is growing. According to indicators, bullishness is increasing, and there is more buying pressure. Bullish traders may enter the market when it retests its rounding bottom breakout on the daily chart. Profitable trading may also include buying at current market rates.
Support – $9.5 or $7.0
Resistance – $11.5 and $13