- Following a period of consolidation, the RUNE price today broke out over the daily price chart which thus follows the most popular cryptocurrency, Bitcoin.
- This time, the daily price chart’s technical indicators look to be in favor of bulls.
- The RUNE/BTC pair is at 0.0001159 BTC with a considerable of 11.55%.
The RUNE price after moving in a consolidating range, made a breakout today over the daily price chart following the top cryptocurrency Bitcoin. But the bears are not just spectators here so they mentioned their presence and again pushed the price back, though the bulls’ efforts were not wasted completely as the RUNE price is still at a gain of 15%.
RUNE price gained more than 40% in just 6 days. Now the coin needs to attract some buyers in order to make this uptrend movement successful. The trading volume gained 106% which helped the price to climb, while this breakout was necessary or else the price could suffer a collapse.
The current price for one RUNE token is trading at $2.52 which is at a gain of 15.05% in its market capitalization in the last 24 hrs. The token has a trading volume of 205 million which is at a massive gain of 106.99% in the 24 hrs trading session and a market cap of 830 million. The volume market cap ratio for RUNE is 0.2414.
What do Technical Indicators Suggest for RUNE?
The RUNE token started behaving bullish over the daily and hourly price chart after the BTC made a hike. The trading volume for RUNE is moving above the average.
The MACD indicator indicates a bullish run ahead as the MACD line is moving above the MACD signal line and the histograms have started growing again which shows the buyers are back and started participating again. The relative strength index is also moving toward the upper region under the influence of buyers. The RSI value for RUNE is above 55 currently.
Conclusion
The RUNE price after moving in a consolidating range, made a breakout today over the daily price chart following the top cryptocurrency Bitcoin. RUNE price gained more than 40% in just 6 days. Now the coin needs to attract some buyers in order to make this uptrend movement successful. The trading volume gained 107% in just 24 hrs. The technical indicators over the daily price chart suggest a bullish run ahead.
Technical levels
Resistance levels: $3.28 and $3.88
Support levels: $1.77 and $1.28
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.