RUNE Technical Analysis Jan 29

RUNE, with a nearly 8% drop today, is at a critical point at $0.52. An upward reaction is possible with oversold RSI, but bearish momentum prevails.

Short-Term Market Outlook

RUNE has fallen to $0.52 with an 8.19% drop in the last 24 hours, and the day’s range is $0.51-$0.57. Volume is moderately at $10.45M, but the downtrend continues. RSI at 18.61 is in oversold territory, creating potential for a short-term reaction. However, MACD shows a negative histogram and Supertrend gives a bearish signal, with price remaining below EMA20 ($0.55). In the next 24-48 hours, testing $0.5130 support will be critical; holding here is necessary for upward movement, while a break could lead to a rapid drop to $0.4654. BTC’s decline across the market is pressuring altcoins, with the effect prominent in RUNE. High-risk day for short-term traders—stick to invalidation points.

Intraday Critical Levels

Nearby Support Zones

The most critical support is $0.5130 (score: 77/100), holding strong on the 1D timeframe. Quick invalidation with a break below $0.5130 activates the downside scenario. Second support at $0.51 coincides with the day’s lows; if held, it forms a zone for scalp buys. Longer-term MTF supports cluster around $0.4654 on 3D and 1W, but intraday focus is $0.5130.

Nearby Resistance Zones

First resistance at $0.5200 (score: 72/100), aligned with Supertrend. Then $0.5272 (score: 63/100) and $0.5497 (score: 60/100) should be watched. Closing above these levels signals momentum change, but challenging in the current bearish structure. Quick invalidation with breakout above $0.5200 for upside scenario.

Momentum and Speed Analysis

Short-term momentum is bearish; MACD histogram is negative and decline speed is high. RSI at 18.61 is oversold, risking divergence that could trigger a reaction on the 4-hour chart. Supertrend resistance at $0.56 is applying pressure; closing above EMA20 $0.55 indicates momentum shift. Volume has decreased on the decline, signaling potential stop hunt at nearby support. For swing traders, $0.5130-$0.5200 range is a scalp zone over 24 hours, targeting 1:2 risk/reward. Speed analysis: While down momentum continues, oversold bounce may remain limited to 5-7% upside potential.

Short-Term Scenarios

Upside Scenario

Hold at $0.5130 support triggers RSI divergence, targeting $0.5272-$0.5497. Trigger: Close above $0.5200. Invalidation: Break below $0.5130. This scenario is valid if BTC stabilizes at $83,383 support, max target $0.5733 (score: 33). Probability 35%, suitable for short-term scalps.

Downside Scenario

Break below $0.5130 leads to rapid drop, targeting $0.51 lows and $0.4654. Trigger: Close below $0.5130. Invalidation: Return above $0.5200. If BTC breaks $83,383, chain reaction in RUNE. Probability 65%, risk management critical: Position size 1-2% of capital.

Bitcoin Correlation

BTC down 6.28% at $83,838, bearish with Supertrend bearish. RUNE highly correlated with BTC (0.85+), BTC break below $83,383 support pushes RUNE below $0.5130. BTC resistance above $85,085 gives RUNE breathing room, while break below $82,040 deepens altcoin dump. BTC levels to watch: Support $83,383/$82,040, resistance $85,085. BTC dominance rising, altcoins under short-term pressure. For detailed view: RUNE Spot Analysis and RUNE Futures Analysis.

Daily Summary and Watch Points

– Main focus: $0.5130 support test, $0.4654 downside on break.
– Upside reaction: $0.5200 breakout targeting $0.5497.
– BTC $83,383 critical for RUNE.
– Watch RSI oversold for divergence scalp opportunity.
– Risk: High short-term volatility, stop-loss mandatory, risk 1% of capital.
– MTF: 1D/3D supports $0.5130-$0.4654, 1W resistance cluster.