RUNE Technical Analysis: Breakout Rally Vs. Death Cross

RUNE prices skyrocket overnight, resulting in a trendline breakout but face opposition at the potential death cross. Will buyers undermine the bearish omen? Key technical points: RUNE market price surpasses the $7 mark The overnight growth of 20% breaks above the resistance trendline. The 24-hour trading volume of Zilliqa is $282 Million, reflecting a rise of 193%. Past Performance of RUNE RUNE prices have been stuck in a correction phase since last month under the influence of the resistance trendline. During the 50% downfall, even the supporting EMAs failed to sustain the selling pressure resulting in a fall to the $6 support zone. Finally, however, the overnight 20% surge completes the double bottom formation and breaks above the resistance trendline. Source-Tradingview RUNE Technical Analysis RUNE price action finds bullish commitment as the trading surges to support the price jump, adding extra credibility to the breakout rally. Moreover, the ongoing retest phase faces a volume crunch increasing the chances of a bullish reversal. The crucial daily EMAs maintain a flat trend, but the bearish influence is evident as it opposes the bullish follow-through candle. Moreover, the death cross possibility increases as the 50-day EMA shows a bearish spike down. The MACD and signal lines give a bullish crossover in the negative territory reflecting a trend reversal and marking the start of a bull cycle. The RSI value reaches the hal...