RUNE is back to healthy levels, what happens now?

OI was at $116m, now back in the $40m range, while Funding is back down to 0.01% - this is healthy again from the mechanics perspective.

Technical analysis

• It is a really clean chart for RUNE here. We rejected at the $6.53 main horizontal resistance and then a clean rejection at the local resistance of $5.80 which we had been commenting for a while as a key level.
• Horizontal support was around the $5.30 level, and it had held on a number of occasions but has now broken down.
• Price has now broken below the green box, but RUNE could see a slight bounce in the coming week or so. The level to retest would be $5.00 to $5.33.
• It's likely that the price will be rejected into $5.30 if it can get there.
• We think price is destined for the Yellow box, which we called around $6.50.

Cryptonary's take

In the long term, the yellow box ($3.70 to $4.00) is likely a good range to DCA into RUNE.

In the short term, price may bounce to $5.30 but may struggle to get above this level