RUNE/USDT: about to triggered significant recovery

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LIN)-------

RUNE/USDT: about to triggered significant recovery

Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets RUNE has been suffering about negative global market situation which should be ended with the rrecent bounce on going on ETH surpassing 1440

Previous analysis : 08/06/2022 :

Market configuration

- Graphical Elements :
Graphical Resistance = 3,25 & 8,35 & 13,50
Graphical Support = 1,62

- Mathematical Indicators:
EMA ( Exp Moving averages) are capping the market at 3,25 = Bearish / Neutral
RSI indicator (below) is bouncing off key support and challenge 50% area = Bullish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target E (B) has been already reached = 1,60/1,40
Fibonacci resistance of the wave in progress = 3,25
Fibonacci support of the wave E (B)(max extension) = 1,09
Fibonacci Bullish Target = 8,35 & 6,25 (auto-similar move)


Conclusion

Preferred case => Regarding the mid-term element, RUNE is still offering a good opportunity to play a continuation of the recovery on going - we adjust the key support 1,62, bypassing 3,25 the bullish recovery will be defenitly confirm offering opportunity to add the exposure on this Token

Trade active:

Update will be published