During the market recovery, RUNE reacted quickly and rose against USDT and BTC.
Following the rise in price, volumes did not keep up.
The price is near a resistance level and a bearish divergence may form on the stochastic RSI.
I expect a retest of resistance, and after the fall to the support level.
The currency rebounded from the upper boundary of the uptrend channel and then retested the MA100.
While testing the upper boundary we received a signal from TD Sequential.
I expect a decline to the support level and after the growth to the resistance.
Before the technical analysis, it is worth noting that the US inflation data was released today, which was worse than expected, which caused an immediate fall of BTC, as well as many other assets, so it is worth considering that we can expect more volatility in the near future.
Funding is neutral and the fear/greed index is also back to neutral values.
Analysis...
Analysis description
Timeframe 1H
Gold continues to move within the upward channel. Formed the third liquidity zone, from where it headed up to test the resistance level of $1834. The movement takes place on the decreasing volumes.
From the liquidity zone came out in a large green candle, forming a bullish takeover.
The stochastic RSI is in an overbought...
Analysis description
Timeframe 1H
The local uptrend after the breakdown of the channel reached the level of 1.14790, after which the correction started and the movement returned back to the channel. During the correction, the descending line was formed, the support level 1.14116 and the upper yellow liquidity zone were tested. The buyer bought out the yellow...
Analysis description
Timeframe 1H
The local uptrend changed to a correction to the 0.5 Fibonacci level, after which we collected liquidity within the yellow zone and formed a new uptrend channel . At the moment, the price has broken through the lower boundary of the channel and is testing the yellow zone.
Indicators are neutral; we are above 50, 200MA but below...
