Log in

Market Direction

Red-hot RUNE faces critical resistance after 250% surge

Updated: Jul 25, 2024
Published: Nov 16, 2023
0
Share:

After an epic 250% surge, RUNE is flashing clear signs of overextension at major resistance. With overcrowded longs and deeply overbought technicals, analysts caution a pullback is likely imminent. However, momentum has kept RUNE resilient so far, so a breakdown is not guaranteed.

Post Feature Image

TLDR

  • Rune is hitting major resistance at $6.53 after a parabolic 250% climb.
  • Bearish divergence and extremely overbought conditions on the daily timeframe.
  • Technicals suggest a high likelihood of correction, but momentum could continue to push higher.
  • We urge caution and recommend trimming positions if you hold RUNE as a trader.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. They are not signals, and they are not financial advice.

Technical analysis

RUNE is now butting into a main horizontal resistance at $6.53 after a 253% move up over the past 3 weeks. 
RUNE 3D
aligncenter size-full wp-image-290343

Looking at RUNE on the daily timeframe, we can see that it’s putting in a bearish divergence, deep into overbought territory. 

Alongside this, the 3D and the weekly timeframes are also massively overbought. From a trading indicators perspective, RUNE is phenomenally overbought here, and on this alone, we suggest caution. We certainly wouldn’t look to add to our position. If anything, we’d look to trim some of our size. 

RUNE 1D
aligncenter size-full wp-image-290346

Market mechanics

The funding rate for RUNE is also very high, indicating a significant bias to be long. Longs are the overcrowded trade here. 

aligncenter size-full wp-image-290345

The open interest has soared, with the long/short ratio at 1.07. This is more participants piling into longs over the past 24 hours, which is currently retail-heavy. Longs are vulnerable to being squeezed here. 

aligncenter size-full wp-image-290344

Cryptonary’s take

As mentioned above, we would be cautious of RUNE here and even potentially look to trim some of our size. We certainly wouldn’t look to add to our position. RUNE is holding up well against a BTC pullback, so it may continue higher. The mechanics and technicals suggest the opposite, but sometimes momentum can be enough. 

We see the likelihood of RUNE pulling back here as relatively high. 

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
BTC, ETH, and More: Double Bottoms and a Critical Bounce
PRO
Market Direction
BTC, ETH, and More: Double Bottoms ...Markets rebound off key lows, BTC and major alts flash double bottom signals. Will support hold for ...
6 min read
Oct 20, 2025
BTC, ETH, and More: Bearish Pressure as Key Support Levels Break
PRO
Market Direction
BTC, ETH, and More: Bearish Pressur...Markets face critical retests with BTC and major alts breaking supports; all eyes on bounce zones an...
7 min read
Oct 17, 2025
BTC, ETH and More: Key Supports Reclaimed, Next Targets in Play
PRO
Market Direction
BTC, ETH and More: Key Supports Rec...Markets are showing signs of recovery after last week’s turbulence. Bitcoin and Ethereum are stabili...
4 min read
Oct 15, 2025