RUNE looks promising [Video]

Gregor Horvat Wavetraders

Crypto market has been slowing down for the last couple of months, but it looks to be just a higher degree coonsolidation within uptrend from technical point of view and from Elliott wave perspective.

Cryptocurrency RUNE with ticker RUNEUSD looks very promising after we noticed an impulsive five-wave rally at the end of 2023 and beginning of 2024. We have seen some retracement in the last few months, but it clearly looks just a like a complex W-X-Y corrective setback. We can actually see it already waking up and it's trying to break channel resistance line, which is first signal for a completed correction, but we still need to see it back above 5,0 first bullish evidence level. Bullish confirmation is above 7,4 region.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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