End of Correction Jump In RUNE Price Eyes 60% Upside

RUNE's Price Action:

Strong Reversal: RUNE showcases a "high momentum double bottom reversal," indicating a potential shift from a downtrend to an uptrend.
Recovery Rally: The price has crossed above the 50-day exponential moving average (EMA) and the 23.60% Fibonacci retracement level, further strengthening the bullish case.
Target and Resistance:

Upside Potential: If the uptrend sustains, RUNE price could reach $10.59, representing a 60% increase.
Potential Hurdle: The $7.67 Fibonacci level could act as a resistance in the short term, potentially causing a temporary price stall.

Read the full analysis: https://coinpedia.org/price-analysis/end-of-correction-jump-in-rune-price-eyes-60-upside/

Technical Analysis:

RSI Indicator: The daily RSI is approaching the overbought zone, suggesting strong buying momentum but also a possibility of a pullback if it enters overbought territory.
EMAs: The price crossing above the 50-day EMA is a positive sign, and further upticks in key EMAs could indicate a continuation of the uptrend.
Overall Sentiment:

Positive Outlook: The overall sentiment for RUNE seems positive, fueled by Bitcoin's recent surge and the altcoin market's overall bullish momentum.
Caution Needed: While a price target of $10 seems achievable, it's crucial to acknowledge the presence of potential resistance at $7.67. Investors should exercise caution and conduct further research before making investment decisions.
Key Takeaways:

RUNE's price action suggests a potential trend reversal from a downtrend to an uptrend.
There's potential for a 60% upside in the near future, but a short-term hurdle exists at the $7.67 resistance level.
Technical indicators support the bullish outlook, but caution is advised due to the possibility of overbought conditions.