๐ Market Overview
Current Price: $1.587
24H High: $1.591
24H Low: $1.301
24H Volume: 45.82M RUNE
Moving Averages:
MA (7): $1.493 (Short-term trend)
MA (25): $1.398 (Medium-term trend)
MA (99): $1.345 (Long-term trend)
RSI (6): 95.14 (Extreme Overbought)
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๐ Key Technical Observations
1. Trend Analysis โ Strong Uptrend, But Overheated?
$RUNE has experienced a strong breakout, surging +18.52% in 24 hours.
The price is far above the 7-day and 25-day moving averages, signaling strong bullish momentum.
However, such rapid price increases often lead to short-term pullbacks.
2. Key Support & Resistance Levels
โ Immediate Support: $1.516 (Previous resistance turned support)
โ Major Support: $1.398 (25-day MA)
โ Immediate Resistance: $1.591 (24H High)
โ Strong Resistance: $1.614 (Next Psychological Level)
A break above $1.614 could lead to further upside, while a failure could result in a retracement toward $1.398.
3. RSI Analysis โ Extreme Overbought (95.14)
RSI above 70 suggests an overbought market.
RSI at 95.14 is a sign of extreme overbuying, increasing the probability of a correction.
4. Volume Analysis โ Bullish Confirmation?
Volume has increased significantly, confirming the breakout.
A volume drop with price consolidation could indicate a cooling-off period.
5. Possible Trade Setups
Bullish Case (Buy Setup) ๐
โ Buy on retracement to $1.516 - $1.398
โ Target: $1.614 - $1.700
โ Stop-loss: $1.345
Bearish Case (Sell Setup) ๐
โ If rejection at $1.5
91 - $1.614, short with a target of $1.398 - $1.345
โ Stop-loss: $1.620
