It is starting to feel like every third post from me is about the RUNE price chart, but the coin keeps giving me something to talk about!
Holding the line....
After such an aggressive run up some consolidation is to be expected, if not a pullback even.
Thus far it has been the former which is bullish. After making a new all time high a week ago the price of RUNE has bounced between 16.60 and 14 with a few intraday spike lower.
Those spikes into the 11s and 12s are a beautiful thing as price rallied to close above the 14 level each time. Basically, the bears tried to dump price and the bulls stepped in a pushed price back to a key level.
The 14 level is what I will be keeping my eye on over the next week. As long as we see closing prices maintain that level then there is no reason for me to not continue holding.
Additionally, you can see the 10 day moving average (blue line) has finally caught up to price and at the same time price has managed to maintain the upside of it, another bullish trait.
Price will at some point close below this average, it always does at some point, but the fact its gone nearly a month trending above it is impressive.
We shall see what the coming weeks brings, at the moment it looks like we are getting a consolidation for another push higher. Let's hope that is the case.
Posted Using LeoFinance Beta