HomeShould you buy the dip in Rune on Friday?

Should you buy the dip in Rune on Friday?

Ansh Rathod

Many coins were trading in the red on Friday after Bitcoin (BTC/USD) was over 2% down.

Rune (Rune/USD) dipped by over 6% on Friday and was back on a crucial demand zone. This could give some great buy the dip opportunities for investors who missed out on the rally which was seen in late October.

  • After a 112% sharp rally in October, Rune hit a high of $17.2 however it has been correcting ever since and is now down to $12.

  • Rune is back at a crucial demand zone which could be the make or break zone for Rune. If a reversal is seen Rune could start a rally once again and hit a new high.

  • After hitting the $12 mark earlier this week Rune has been consolidating and could be gearing up for a new rally soon.

  • Rune has corrected to the Fibonacci 0.5 retracement level and a bounceback could be soon as Rune has previously taken support at $12 before the sharp surge in October.

  • Rune could also form a double bottom if it reverses which is a strong bullish pattern and could be a great sign for investors.

  • A golden cross over was also seen earlier this month which is suggesting that Rune could continue its rally soon.

  • Investors must note that an entry should only be taken once a clear reversal is seen and once Rune is able to break through $13.

  • A target of $15 can be set followed by a new high above $17.1 can also be set.

  • A stop-loss can be maintained below the zone at $11.5.


Rune could be a great pick to buy the dip in however investors must be patient and should wait for a reversal before going long. Rune is looking very bullish for the coming weeks if a reversal is seen now and a new high could also be seen in the coming months.

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