Rune Crypto Gains Momentum as Bullish Trends Strengthen

The recent performance of the #Rune crypto on the 4-hour chart indicates a notable upward trajectory, reflecting a bullish sentiment among investors. The closing prices have steadily increased from $6.259 to a peak of $6.669, before a slight retraction to $6.532. This progression suggests a growing investor confidence and potential for continued upward movement.

The 9 EMA and 20 EMA both illustrate an ascending trend, with the 9 EMA (last recorded at 6.292) consistently above the 20 EMA, reinforcing the bullish outlook. This pattern often suggests that short-term momentum is building, providing a robust support level for the price.

The Moving Average Convergence Divergence (MACD) analysis further supports this optimistic scenario. The MACD line has remained above the signal line throughout the recent intervals, culminating in a latest MACD value of 0.169 with a signal of 0.066. The growing distance between these lines, particularly with histograms peaking at 0.109, underscores a strengthening momentum.

The RSI readings have also been positive, mostly staying above the mid-line 50. The latest reading at 65.98, though lower than the previous 71.83, still indicates a strong buying pressure. It suggests that the market might not yet be in the overbought territory, leaving room for potential price increases.

Looking ahead, $RUNE faces immediate resistance at the $7.44 and $7.56 levels. A break above these could signal continued bullish momentum, possibly challenging further highs near $7.564. On the downside, support levels at $5.926, $5.773, and $5.649 provide safety nets. These levels could be crucial if the market retraces from its current position. #write2earn🌐💹 #BullorBear #TrendingPredictions
The full analysis and trade strategy were originally posted on ecoinimist.com.