#RUNE /USDT: Bearish Slide – Will the Support Hold❓
Key Levels to Watch
Resistance: $1.360 – A recovery above this level is needed to reduce selling pressure.
Support: $1.300 – Critical to hold this level to prevent further downward movement.
Trade Setup
Entry Zone: $1.310–$1.330 – Look for confirmation of support holding before entering.
Stop-Loss: Below $1.290 to minimize potential losses.
Targets
1. $1.360 (Short-Term)
2. $1.400 (Mid-Term)
3. $1.450 (Extended Target)
Technical Indicators
RSI: At 35.01, approaching oversold territory, indicating a potential bounce.
MACD: Negative, reflecting ongoing bearish momentum but showing signs of slowing decline.
Market Insight
RUNE is currently under heavy selling pressure, with the price nearing a key support level at $1.300. If this support holds, a relief rally toward $1.360 could follow. However, a break below $1.300 might accelerate the decline, targeting lower levels.
Pro Tip: Monitor RSI closely for signs of divergence, indicating a possible reversal. Wait for increased buying volume before confirming a position.