---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LIN)-------
RUNE/USDT: On his way for bullish reversal
Context
- The Global Crypto market leads by BTC and ETH reversed a new bullish trend - RUNE for now is still lagging versus ETH - We are watching at 3,25/3,77 area to bypassed to extend the bullish recovery in progress - Watch 2.00 as key support
Previous analysis : 18/08/2022 :
Market configuration
- Graphical Elements : Graphical Resistance = 3,25/3,77 & 8,35 & 13,50 Graphical Support = 2,00
- Mathematical Indicators: EMA ( Exp Moving averages) are now support at 2,69 = Bullish / Neutral RSI indicator (below) is now above 50% area = Bullish
- Elliot & Harmonic Wave (Fibonacci): Fibonacci Target E (B) has been already reached = 1, 42 Fibonacci resistance of the wave in progress = 3,25/3,77 Fibonacci support of the wave E (B)(max extension) = 1,42 Fibonacci Bullish Target = 5,48 & 6,25 (auto-similar move)
Conclusion
Preferred case => AS long as 2,00 remain support, we are looking at buy the dips in the buying area in order to challenged 3,25/3,77 and surpass this zone to confirm a bullish reversal towards 5,48 in a first step