$RUNE On the weekly looks like itโs loading the slingshot ๐ฏ
Price has been grinding near cycle lows, holding above $1.3.
A break of the multi-year downtrend opens the door to $3.7 โ $5.5 โ $7.0.
Watching for acceleration if this wedge finally gives way. ๐
Potential Scenarios:
Bullish Breakout:
If price breaks above the long-term descending trendline, targets could be Fib levels:
$3.717 โ $5.536 โ $7.006.
Could align with a new cycle phase and broader market recovery.
Rejection and Re-test Lows:
Failure at trendline โ revisit support near $0.78.
Possible extended accumulation before breakout.
Gradual Recovery:
Slow grind up to trendline without explosive breakout, then gradual breach.
Patterns:
Accumulation Range forming since early 2025 โ potential Wyckoff accumulation phase.
Long-term descending wedge โ bullish bias if breakout confirmed.
Strong confluence with Fib retracements for upside targets.
#ETH5kNext? #ETHRally #DeFiGetsGraded
Price has been grinding near cycle lows, holding above $1.3.
A break of the multi-year downtrend opens the door to $3.7 โ $5.5 โ $7.0.
Watching for acceleration if this wedge finally gives way. ๐
Potential Scenarios:
Bullish Breakout:
If price breaks above the long-term descending trendline, targets could be Fib levels:
$3.717 โ $5.536 โ $7.006.
Could align with a new cycle phase and broader market recovery.
Rejection and Re-test Lows:
Failure at trendline โ revisit support near $0.78.
Possible extended accumulation before breakout.
Gradual Recovery:
Slow grind up to trendline without explosive breakout, then gradual breach.
Patterns:
Accumulation Range forming since early 2025 โ potential Wyckoff accumulation phase.
Long-term descending wedge โ bullish bias if breakout confirmed.
Strong confluence with Fib retracements for upside targets.
#ETH5kNext? #ETHRally #DeFiGetsGraded