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- The RUNE coin is recently moving on a bullish trendline.
- It is currently trading at $1.83 with a repulse of 10.6% in the last 24 hours.
- The token is down from its all-time high by 91.37%.
The RUNE token has recorded 83.66% ROI in the last 3 months. Its price recently got rejected from the $2.1 resistance level, where it made the annual high and then came down. RUNE coin’s price is currently testing support from the trendline.
The token marked its all-time high on 19th May 2021 where the token was priced at $21.26.
It is presently trading with a drop in the trading volume by 43.14% in the last 24 hours.
It has a current market capitalization of $618.95M. The circulating supply of the token is currently 336.46M RUNE, which is 67.29% of its total supply. The 24-hour trading volume of the token is $254.24M.
Sentiment Analysis
The price of the token has dropped by 10.8% and the total market volume has increased by 58.21% in the last 1 day. The total social engagements have increased by 103.2% and total bullish sentiments have surged by 73.83%.
The total bearish sentiments also increased by 90.24% as the volume after getting rejection from the $2.1 resistance has started to fall. That is a negative sign for the price. The overall sentiments are indicating a bearish move as the volume has started to decline. Suppose the volume starts to increase, the price can start to rise.
Technical Analysis Of RUNE (Daily- 1D)
As we can see that the price is currently in a bullish trend and trading above the 200-day EMA. The price has been moving on a bullish trendline and recently the price got a rejection from the $2.1 and came down.
If the price sustains above the bullish trendline and takes support again from it with an increased volume, there are chances that the price will break the resistance of $2.1 and make a new yearly high.
Also, If RUNE price breaks below the trendline, the next support will be at $1.6. Suppose it falls further, the support is at $1.3. If the price moves below the 200-day EMA and $1.3, the price will be bearish.
Indicators About RUNE
Relative Strength Index (RSI)
The RSI line is presently moving at 50.33 points and the SMA 14 is moving at 59.31 points. It is at the neutral level 50. If the RSI falls below the neutral level, the RUNE token price may start to fall.
Moving Average Convergence/Divergence (MACD)
The fast blue line moving average is above the red slow line moving average. The histogram is showing that the volume has started to decrease which is a bearish sign for the price.
RUNE LIVE CHART
Conclusion
If the RUNE volume keeps on decreasing and the price breaks down below the trendline then the price will fall down. Also, If the price takes support from the trendline and moves upward with a sizable volume, it can break the resistance and make a new yearly high.
Technical Levels
Support: $1.6 and $1.3
Resistance: $2.1
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
