RUNE — Bullish Trade Signal On The 4H Chart + Broke Through Resistance — 20% Potential 🚀
RUNE offers an appealing trade setup based on the latest chart analysis and trade signals.
Although the token has already pumped ~45% since it bottomed at the beginning of July, both charts and indicators signal more potential.
1️⃣ Chart Analysis
RUNE just pumped through the significant resistance at 4.5. If it sticks the landing on at least the 4H chart, the token should be good to go for another leg up.
Since the next significant resistance sits at 5.5, there's plenty of room to run (20%).
2️⃣ Technical Indicators
Due to the recent run, we find many momentum indicators in the overbought area. However, although this is worth monitoring, it does not necessarily imply an immediate reversal, especially not when it has just broken through resistance.
3️⃣ Trade Signals
RUNE flashed a so-called Power Scalper signal on the 4H chart. The bullish signal is very reliable regarding a profit potential of up to 5%.
✅ Putting It All Together
First, RUNE has to close the 4-hour candle above the resistance. Afterward, I expect a continuation (according to the trade signal) of up to 5% before we see a correction or a retest of the previous support. If the market remains bullish, we should see a bounce or an attack on the upper resistance.
