---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LIN)-------
RUNE/USDT: Buying area reached
Context The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets RUNE is suffering about negative global market situation which should be ended once the crypto market gonna start the bullish reversal However we are focus on a key buying area now on this coin and we expect a fast and quick recovery regarding the wave swing configuration of the trading range
Market configuration
- Graphical Elements : Graphical Resistance = 10,20 Graphical Support = 1,20 & 3,00
- Mathematical Indicators: EMA ( Exp Moving averages) are capping the market = Bearish RSI indicator (below) is bouncing off key support = Bullish
- Elliot & Harmonic Wave (Fibonacci): Fibonacci Target E (B) has been already reached = 3,00 Fibonacci resistance of the wave in progress = 10,20 Fibonacci support of the wave E (B)(max extension) = 1,20 Fibonacci Bullish Target = 17 & 25 (auto-similar move)
Conclusion
Preferred case => Regarding the mid-term element, RUNE is offering the perfect entry area for a mid-term portfolio configuration in order to anticipate a bullish exit towards 17,00 as long as 1,20 remains support - 10,20 is expecting to acts as an intermediate resistance to confirm the bullish exit from the consolidation
Strong conviction => ABove 1,20 buy now (3,00) to reach 10,20 area = common part