I don’t follow much RUNE, to be honest I haven’t checked many altcoins lately because of this uncertain market influenced by the war, however I’ve been asked to check RUNE so here we are.

Over the last 13 days RUNE had a gread pump (that explain why it kept popping on my social’s feed) but as you can see it has currently bounced on the EMA 200 and has currently retraced a bit, in a zone where as you can see, in the past there was a good amount of trades (check VLPR on the left). Also, there’s a noticeable DIV on OBV, it could either be an hidden bullish or a bearish DIV , I’m more inclined to think it’s the latter.

On the 4h (I’ll add a screenshot in the comments) price has reached a zone with poor liquidity and that’s why it wasn’t able to breach over EMA 200. Always at this timeframe there’s a possible Elliot Wave harmonic pattern in formation with wave 3 ended, which could increase the possibility of a retracement (wave 4).

Right now I would look for a good entry point for a short or, in case I have some, I’d sell mine at profit. If I’m wrong at least you locked your profit.

Good luck