The ongoing recovery trend in RUNE price has adopted a more stable approach with the effect of the widening channel structure. In the past two months, prices have rebounded from the lower trend line twice and twice from the upper trend line, indicating its strong impact on market participants. This altcoin is poised for a significant recovery as investors are currently under pressure from high demand at the lower trend line.

Uptrend reversal from support trend line signals a 38% recovery

Disruption of the channel model will also put this altcoin at risk of a major correction

Intraday trading volume is 126 Million Dollars, indicating an increase of 104%.

After the RUNE upward move, the price begins to turn into a widening channel pattern. In theory, diverging trendlines of the chart pattern reflect increased volatility.

Amid the recent pullback in the crypto market, price action is exhibiting a pullback from the overhead resistance trend line at $2.26 and completing a negative loop to test the lower support trend line.

However, with the additional support of the 200-day EMA, the cryptocurrency price manages to meet the incoming supply and avoids breaking the support trend line around $1.55.

Optimistically, buyers may manage to regain bullish momentum as the overall market indicates the possibility of a recovery rally this October season. In such a case, Rune prices could reclaim the general psychological mark of $2 and, with a better possibility, retry the $2.26 high

If sellers keep the uptrend in check, a sharp increase in supply could break the support trend line. In such a case, the downtrend momentum will increase significantly as the downtrend fuels the downtrend.Therefore, falling prices on the lower side could test the critical support at $1.38.