Rune Tested Price Support and Rallied Hard!
The price of Rune bounced off support quite nice and wasted no time doing so.
Strong like Bull
Turn and go...
Rune wasted no time, putting an end to the sell off as soon as it touched the first real support level.
The support area of 10.50 to 11 marked on the chart so one day of action, with the large doji candle (highlighted) giving us the reversal before the rebound.
Though doji candles mark indecision normally, this candle just followed a sell off and closed above the prior day's close after trading below the prior day's low.
That is bullish price action within that candle of indecision.
Where to now...
We just saw an aggressive bounce on average to low volume so we shall see what plays out as price is now testing a potential resistance, which is the pivot point of the second to last high (the one right before the all time high) at roughly 15.25.
Some consolidation here would be fine. Heck even a pullback that held 14 would still be very bullish in my opinion.
Either way, just when Rune looked like it may be in a descending channel, it busted out higher.
The cap limit raise last night probably didn't hurt as a chunk of Rune was surely locked up with all the options to pool.
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I think there will be a correction
She has made an excellent climb recently
But I think there should be some relief
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Are you just trading RUNE or invested in it?
It's one of my biggest frustrations this bull market.
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I have a small bag I am holding, but I am also trading it and any profits from trades I use to add to the bag. My way of building a bag for free :-)
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Great news for those who hold RUNE. I didn't have the funds back then to pick some up. I have moved into other projects now so I don't really feel like it is worth it. I know it will probably keep going up. It seems like a really cool project.
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That is a solid rally after the bounce at around $10.70, looking bullish, and hopefully alt season is good to RUNE..
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Yeah, rune has outperformed so hoping the relative strength continues.
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This currency is proving to be a strong currency, as it has held its own in spite of the market downturn.
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I think the fundamentals of the project will push it back into price discovery over the next few weeks.
Congratz on getting some pooled also, that little cap raise was a mad scramble.
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