RUNE — Ready For A Ride?

20 sept.

At the end of August, RUNE made a significant breakout from its long-term downtrend channel, signaling a strong trend reversal. Moreover, it was followed by multiple successful retests, adding further credibility to the changing momentum.

In addition to the breakout, RUNE has also formed an inverse head-and-shoulders (H&S) pattern, a classic reversal indicator. This further solidifies that RUNE is poised for a continued bullish move.

Here's what we can do 👇

Entry Strategy:
We have two possible entries depending on the market.
• Entry 1: A clear break above the $4.5 level. This would confirm the bullish breakout and give more confidence in continuing the upward move.
• Entry 2: If RUNE pulls back, a bounce from the $4.2 level after a successful retest offers another substantial entry opportunity. This bounce would affirm the $4.2 level as solid support and a potential higher low.

Targets:
• Target 1: $5.0 – This psychological level offers the first apparent resistance and a potential (smaller) profit-taking zone.
• Target 2: $6.3 – If RUNE maintains its bullish momentum, this level becomes a key target for further gains.

💡If the broader market remains bullish, we can consider adding higher targets as the trend continues.