$RUNE

Only #rune 💪🚀😎

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Technical Analysis

  1. Market Structure and Trend:

    • The chart shows that RUNE/USDT has had a strong rebound from a low of $4.302, advancing to reach the zone of $5.528, which represents a clear bullish movement in the short term.

    • Currently, the price is consolidating near the resistance of the 0.236 Fibonacci level ($5.869). This consolidation could be a pause before attempting a new advance or a sign of weakness.

  2. Fibonacci Levels:

    • The price has bounced from the 0.786 level ($4.741) and has reached the zone of 0.236 ($5.869).

    • If the price manages to break and stay above $5.869, we could see a bullish extension towards the previous high at $6.352.

    • If the price fails to break through this resistance and weakens, the 0.382 level ($5.527) and 0.5 ($5.136) will act as key supports in case of a correction.

  3. Volume and Moving Averages:

    • Volume has decreased after the bullish momentum, indicating that buyers may be losing strength. This suggests that the price could enter a phase of consolidation or correction.

    • The 7-period moving average ($5.496) and the 25-period moving average ($5.515) are aligned to support the bullish trend, but their proximity indicates that momentum may be waning.

Prediction and Recommendations

  • Short-Term Prediction: If the price manages to stay above $5.527 and strongly surpasses the level of $5.869, a move towards the next target at $6.352 could be considered. However, if the price does not surpass this resistance, we could see a correction towards the levels of $5.527 or even $5.136.

  • Possible Bearish Movements: A drop below $5.136 could lead the price to test lower supports, such as the 0.618 level at $5.036.

Investment Strategy

  • Buy or Wait: It is wise to wait for a clear breakout above the resistance of $5.869 before entering a buy position. If you already have open positions, you might consider taking partial profits near $5.869 and managing risk appropriately.

  • Long-Term Position: RUNE (THORChain) has a solid project focused on blockchain interoperability and cross-chain liquidity, making it attractive for long-term holding. While the short term may show volatility, its focus on decentralization and utility in the DeFi ecosystem gives it good potential for the future.

Conclusion for the Community

"The RUNE/USDT pair is in a critical zone near $5.869, facing resistance. A solid breakout could trigger a move towards $6.352, while a correction could bring it back to supports at $5.527 or $5.136. Risk management is key in this consolidation phase. Stay alert to market movements and secure your investments with caution!"

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