weekly chart of $RUNE

1. Downtrend Confirmation:

• The price is trading below the 5-week MA (yellow line) and the 10-week MA (purple line), confirming a bearish trend.

• The long-term momentum appears to be weakening, with the price failing to sustain above critical resistance zones.

2. Bollinger Bands:

• The price has started moving toward the lower Bollinger Band (3.2380), indicating increased selling pressure.

• A break below the middle Bollinger Band (5.0942) also signals bearish dominance.

3. RSI Levels:

• RSI (6, 12, and 24) values (34.05, 42.19, 46.67) are trending lower, indicating decreasing buying strength and the possibility of further downside momentum.

• RSI values below 50 strengthen the bearish outlook.

4. MACD Indicator:

• The MACD line is below the signal line, with negative values (-0.1238), reflecting bearish momentum.

• The histogram shows declining momentum, indicating sellers are in control.

5. Volume Analysis:

• There is declining buying volume on price rallies, suggesting a lack of confidence from buyers.

• Selling pressure appears dominant, which could lead to further downside.

6. Key Levels to Watch:

• Support: The price may test the support zone near $3.2380 (lower Bollinger Band) if the downtrend continues.

• Resistance: The $5.0942 level (middle Bollinger Band) is a critical resistance that the price must overcome to negate the bearish trend.

Conclusion:

The overall chart structure points toward continued bearish pressure unless a significant reversal pattern or bullish catalyst emerges. Traders should remain cautious and monitor support levels for potential breakdowns.