$RUNE DeFi Giant Eyes Key Support | Breakdown or Breakout?
🔎 Welcome Binance Square Family!
Today we’re diving deep into RUNE, a prominent DeFi project currently ranked #118 with a market cap of $383M. The asset has been on a notable downtrend, but signs of exhaustion are starting to appear.
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🕰 Weekly Timeframe Insights:
RUNE has been sliding from the $6.894 peak, reaching as low as $1.110.
Momentum is slowing — price is dropping gradually, suggesting a potential cooldown in sell pressure.
RSI nearing oversold territory (~30), signaling that a reversal or bounce could be in the making.
🔻 Bearish Scenario:
If price consolidates below $1.110, expect a move toward $0.816 — a major support level.
Break below $0.816? Final floor could be $0.386.
⚡️ Bullish Outlook:
Hold at $1.110 + breakout of the descending trendline = trend reversal confirmation.
Long-term trend change will only be fully confirmed above $6.894, but early signals can emerge earlier.
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🗓 Daily Timeframe Breakdown:
RUNE is range-bound between $1.091 and $1.504 after breaking down from the $3.210 level.
Current structure is a range box, with lower highs suggesting bearish pressure building.
🔽 Short Bias:
Price formed a lower high below $1.504, increasing the chance of a breakdown below $1.091.
If $1.091 breaks with volume, short setups become viable.
📈 Long Bias:
Volume is thinning, a sign that a move is coming — direction depends on volume spike.
A break above $1.504 (also the 0.236 Fib level) would activate long setups toward:
0.382 Fib
0.5 Fib
0.618 Fib
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📝 Final Thoughts:
RUNE is showing mixed signals — consolidating in a tight range with decreasing volume. A breakout or breakdown will define the next major move. Watch $1.091 and $1.504 closely — volume will be the key.
This is a technical outlook, not financial advice. Always manage risk and trade smart!
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