RUNE â Ready For A Ride? đ„
At the end of August, RUNE made a significant breakout from its long-term downtrend channel, signaling a strong trend reversal. Moreover, it was followed by multiple successful retests, adding further credibility to the changing momentum.
In addition to the breakout, RUNE has also formed an inverse head-and-shoulders (H&S) pattern, a classic reversal indicator. This further solidifies that RUNE is poised for a continued bullish move.
Here's what we can do đ
Entry Strategy:
We have two possible entries depending on the market.
âą Entry 1: A clear break above the $4.5 level. This would confirm the bullish breakout and give more confidence in continuing the upward move.
âą Entry 2: If RUNE pulls back, a bounce from the $4.2 level after a successful retest offers another substantial entry opportunity. This bounce would affirm the $4.2 level as solid support and a potential higher low.
Targets:
âą Target 1: $5.0 â This psychological level offers the first apparent resistance and a potential (smaller) profit-taking zone.
âą Target 2: $6.3 â If RUNE maintains its bullish momentum, this level becomes a key target for further gains.
đĄIf the broader market remains bullish, we can consider adding higher targets as the trend continues.