As RUNE gears up to launch it's mainnet any day now I thought it a good time to review the price chart and see what the action is telling us.
Consolidation in the channel...
Pullbacks that ain't really pullbacks
These are my favorite type of price moves, where what is supposed to be a negative really isn't much of a negative.
Looking at the chart you can see after price spike above $6.50 it has pulled back with the rest of the crypto market.
The thing is though, all price did on RUNE was pull back to the support line of the ascending channel it has been in for the past couple months.
That sounds like a bullish scenario to me, plus we got a double wick bottom between yesterday and today's candles.
It is a rather clean one to read. So long as price holds this ascending channel it is still bullish price action.
The mainnet will likely launch sometime this week so you have that catalyst as well. As the saying goes: Buy the rumor, Sell the News.
My quick take on RUNE, not financial advice ;-)
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Muy buen analisis. Te comparto el mio y llegamos a las mismas conclusiones, estamos en presencia del inicio de un retroceso, no se si llegara a la base del canal alcista, pero si podemos colocarnos unos objetivos mas cercanos a los 4$
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Ooooh I like that ascending trendline you have there, but damn I really don't want to ride this thing down into the mid-4s hahaha
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I don't want to either hahaha
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At last is all I've got to say!
I've had a few grand's worth pooled on BEP with various things for a couple of months - somewhat unexpectedly i've seen BAT/ AVA and SXP all do better - maybe now I won't mind having ended up with a bit more Rune as a result.
I might just leave everything pooled and see how it goes, best case scenario is the pair-prices bouncing around all over the place.
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I’m pooled there as well. I was thinking a large amount of RUNE might be pooled out and transferred to the mainnet. Increase of APR possible ?
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You would have thought so - I'll be looking to go mainnet at some point soon!
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I think also it is good opportunity to buy
we have some hammer candles recently and the price may be back to 6.5$ again
for me 6$ is a first target and it is good
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Agreed, I had sold out of my large position at $6.53 when it topped out, which worked out nice. Got back in at $5.24 today.
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Rune is one of my latest missed opportunities. I really wish I would have had the funds to get into it when the price was lower. That seems to be the case, now when I have the funds, the opportunities aren't as obvious. They are out there, but I just don't know where to find them!
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I hear ya, but I just jumped back in. I sold most of mine at $6.53 and just bought back most of that at $5.24 today
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Nice!
Thanks for the heads up. This sounds like a reason for me to finally get into Rune.
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It's basically a gamble on it mooning into the mainnet launch, at least it is for me!
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I get it. Sounds like a worthy gamble. I missed the earlier rise ( although I heard of it ), might ride this one. Cheers!
It has already tested the channel several times, so it is likely to go upwards, especially if the main network is launched in a few days. We have to take advantage of it right now.
Greetings colleague!
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Exactly, I jumped back into it today. If that channel holds it will make life easy.
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By the beard of Wodin! That $RUNE is really going places. I have been checking out their site and it is real interesting. Will be neat to see how they make out.
https://thorchain.org/
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Hoping for a moonshot :-)
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RUNE is a top-tier project! I have two pools on Chaosnet now and the price action doesn't worry me that much. I also have some spare RUNE to sell once it gets to $30 or so :)
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After the correction it has a clear upward move to reach a new scale.
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Agreed. I have been bullish RUNE a while, but decided to take some $$$ on trades. Now its hold time again.
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I saw the price at $4.7 and gobbled it up like a goblin....
Mine mine mine mine mine gobble gobble gobble gobble gobble gobble gobble gobble gobble gobble gobble
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Yeah, I saw it there too. Considered throwing a little more money in the acct to gobble up some but didn't want to take away from Cub! I'm basically fully invested at moment.
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