Despite the RUNE prices trending lower under the influence of a supply-rich resistance trendline, bulls plan a sneak attack that may give a 30% price jump.

The RUNE coin price shows another bullish attempt to crossover the resistance trendline in action. However, the bulls struggle to overcome the sellers-dominated trendline as the uptrend faces intense selling pressure. Will the bullish attempt prove successful in changing the trend direction?
<h2>Key technical points:</h2>
<ul>
 	<li style="font-weight: 400">The coin price sustains above the $100 mark.</li>
 	<li style="font-weight: 400">The trend faces resistance from the 50-day EMA. </li>
 	<li style="font-weight: 400">The 24-hour trading volume in the Thorchain token is $248 Million, indicating a 75% rise. </li>
</ul>
<h2>Past Performance of RUNE</h2>
With the failure to sustain above the $6-$6.5 horizontal zone, the RUNE coin price depreciates by 40% within a week. The free fall finds support near the $3.5 mark resulting in a short-term consolidation.

On 5th February, the bulls break above the range but fail to rise above the resistance trendline resulting in downfall to the $3.5 mark. However, the bulls regain momentum and challenge the trendline once again. 

Currently, the RUNE coin price trades at $4.54, with a price jump of 4.23% in the last 24 hours as the uptrend rises again from $3.5. Therefore, the traders can shortly find the price rise above the supply-rich trendline.

<img src="https://s3.tradingview.com/snapshots/f/flbrBSVz.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/flbrBSVz/">Tradingview</a>
<h2>RUNE Technical Analysis </h2>
The <a href="https://www.cryptoknowmics.com/news/rune-technical-analysis-reversal-rallies-to-the-resistance-trendline/">RUNE</a> coin price can show a more than 25% post-breakout bullish rally and challenge the $6-$6.5 horizontal zone. However, the reversal possibilities from the trendline can become a reality.

The RSI Indicator shows a bullish divergence in the past two dips at the $3.5 mark, projecting the possibility of a bullish continuation. Moreover, the slope growth from the oversold zone to reach the halfway mark showcasing a rise in bullish powers. 

The MACD indicator projects a growth in the fast line as it avoids the bearish crossover. Furthermore, the lines approach the zero line with a bullish divergence evident in the past two encounters of the fast and slow line.

The post-breakout rally may struggle to surpass the crucial 50-day EMA, providing dynamic resistance after the death cross. However, the breakout of the 50-day average can result in a bull run to the 200-day EMA in the RUNE/USD chart.

In conclusion, the technical indicators indicate the rise in underlying bullishness. 
<h2>Upcoming Trend</h2>
The RUNE coin price action indicates a bullish revolt that challenges the highly influential resistance trendline. The post-breakout rally can reach a 30% growth and test the 200-day EMA. However, traders need to wait for the price action confirmation for an extra edge. 

Support Levels:$3.5 and $2.15

Resistance Levels: $6 and $8

RUNE Technical Analysis: Struggling Bulls Strive For a Trendline Breakout 

Despite the RUNE prices trending lower under the influence of a supply-rich resistance trendline, bulls plan a sneak attack that may give a 30% price jump.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

RUNE Technical Analysis: Struggling Bulls Strive For a Trendline Breakout

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