Log in

Technical Analysis

RUNE technical analysis: Can $7.2 resistance be broken?

Published: Oct 9, 2024
0
Share:

RUNE has bounced off key levels and is eyeing $7.2 resistance. Can it break out? Here’s the technical analysis.

Post Feature Image

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


Market context

RUNE is an asset we've been watching closely, especially after the live video session with Abro, where we analyzed the significance of head and shoulder patterns. What we noticed during the live is that both a head and shoulders and an inverted head and shoulders have formed on RUNE.

Since the 20th of May, when RUNE sold off from $7, it has been in a bearish structure. We set a swing low into the $3.3 price point, a swing high around $5, and then another swing low down to $2.5, forming the head of the head and shoulders pattern. The right shoulder formed around the $3.3 price point, which was again well-respected.

From there, RUNE bounced up over 75%, reclaiming key psychological levels at $4.5 and $5. These price points have been significant in previous price action, as seen with the buying pressure back in early March and around April. The fact that we are reclaiming these levels suggests that RUNE may be poised for a sharp move back toward $7.2.

If we break through that level, the next key target will be the highs around $11. Based on what we've discussed in the live session, this head and shoulders pattern represents a potential reversal, offering a key opportunity for a move to the upside.

With bullish momentum expected to return to the markets in November, this could present a strong setup to take advantage of, especially as capital flows increase. RUNE remains part of our C-Pro Picks, as it has strong fundamental utility and a solid community backing it.

6. RUNE weekly chart showing inverse head and shoulders pattern targeting resistance levels at $5 and $7.2

Playbook

Key levels

  • Support: $3.3
  • Resistance: $4.5, $5, $7.2
  • Mid-term target: $11

Trading setup

The $3.3 level has proven to be a key zone for accumulation, with prices bouncing 75% from this region. As RUNE continues to reclaim levels, a move up to $7.2 becomes more likely. Accumulating within the $4.5 and $5 range would position you for potential upside if we break through $7.2, with the next target being the $11 region.

Risk management

The main area to watch is the $3.3 support zone. If this level fails, we'll need to reassess the structure. However, holding above this zone, with a reclaim of $5, provides a clear path toward $7.2 and possibly $11. Any pullbacks into the $4.5-$5 range could present a buying opportunity.

Market sentiment

With strong buying pressure seen around key levels and the potential for capital flow to increase in Q4, RUNE is well-positioned for a bullish reversal. This head and shoulders pattern, combined with the broader market sentiment, sets RUNE up for a potential move to $7.2 and beyond.

7. RUNE weekly chart showing resistance at $7.2 and mid-term target at $11 based on price projection

Cryptonary's take

RUNE is showing strong signs of a potential reversal, with key levels like $3.3, $4.5, and $5 being reclaimed. A breakout above $7.2 would provide confirmation for further upside, with $11 as the next target. The asset is part of our C-Pro Picks due to its strong fundamentals and dedicated community, making this a potential opportunity to capitalize on the upcoming bullish momentum as discussed on the Tom & Asads live.

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
This Week's Setup: 27th of October
Market Updates
This Week's Setup: 27th of OctoberIt’s a big week in markets, and you don’t want to miss what’s coming. The Fed meets, Trump and Xi ar...
7 min read
Oct 27, 2025
BTC, ETH and More: Breakouts Loom on Pennants, Key Levels Ahead
PRO
Market Direction
BTC, ETH and More: Breakouts Loom o...The market is coiling in pennants after the inflation beat. All eyes on major resistance and breakdo...
6 min read
Oct 24, 2025
Market Pulse: Softer Inflation Fuels Fed Cut Hopes
PRO
Market Pulse
Market Pulse: Softer Inflation Fuel...Inflation surprised to the downside, easing Fed pressure and sparking rebounds in both TradFi and BT...
3 min read
Oct 24, 2025