RUNE is heading to the sweet spot for long-term buys

Its OI has reset substantially, down approximately 66%, while Funding is flat at 0.01%. There are healthy mechanics here. 

Technical analysis

• The one constant in RUNE’s recent charts has been the formation of lower highs and lower lows.
• Each local horizontal level has become new resistance as price has gone lower.
• If price moves higher, the $5.00 to $5.30 will likely act as new resistance, and price may reject from there.
• It feels as if the yellow box of $3.70 to $4.06 is a magnet for price, and we can see price being dragged into that zone. However, this would be a good area to DCA into RUNE again.

Cryptonary's take

RUNE can go lower here, and it looks destined for the yellow box (chart above).

If RUNE does get there, this could be a good area to DCA in the long term if you’re not already exposed or looking to increase your spot bags.