- Captain Faibik’s bullish RUNE prediction instantly draws the spotlight of viewers and inspires a potential price explosion.
- Falling Wedge in RUNE chart suggests that selling pressure is easing which might lead to bullish breakout in the coming days.
- RUNE is approaching critical levels of resistance and, if it is broken, the price may increase by 200%, says Captain Faibik.
Captain Faibik has shared some incredible forecast on RUNE and it grabbed the attention of the crypto enthusiasts. In a recent X post, the Faibik described a promising space for investors, insisting on the presence of an enormous chart that could attract a boost in price.
Daily chart analysis of the RUNE/USDT shows that a Falling Wedge pattern could be conducive to a bullish breakout, as indicated by Captain Faibik. This pattern is normally interpreted as a signal that the decrease might be nearing an end. The analysis shows a case of two converging downtrend lines that indicate there may be a reduced selling pressure, and a breakout may be expected.
At the time of writing, the RUNE price is floating right above the falling wedge at the $3.84 mark. This area has provided support, and the latest price movement suggests that there is a rebound from this level, meaning that buyers are coming into the market.
Source: TradingView
RUNE Approaches Critical Resistance for Breakout
As RUNE climbs higher it is close to the upper line of the wedge wall that is approximately at the $4.50 to $5.00 range. This resistance level holds a lot of potential for a breakout above it, with likely to massively propel the price upward.
Faibik anticipates an operational target range of about $11.40 to $12.00 in the event of a breakout, which is basically 200% above the present levels. Nevertheless, for the traders who plan to enter a market and use this potential move for the further profit, the breakout confirmation is vital.
The support, on the other hand, does not appear to wane even when price is around $3.00 to $3. On the upside, the near term resistance level seen at 50 zone must hold and this will keep the bulls firmly in control a s long as price remain above this areas.
The Falling Wedge pattern helps traders have a plan of trading since it is well illustrated. While the failure of one of these patterns might lead to further elaboration of the other pattern in the area, neither might result in the breaking out of the overall pattern. Once again, the best way to approach this would be to pay close attention to the price movement and wait for the appropriate time to take advantage of the situation.
