Many coins slipped into negative territory on Friday after Bitcoin (BTC/USD) fell by over 2%.
Rune (Rune/USD) fell by over 6% on Friday and was once again in a crucial demand zone. This could provide some great buying and dipping opportunities for investors who missed the rally at the end of October.
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After a strong rally of 112% in October, rune reached a high of $ 17,2. However, since then, the price has since corrected and has now fallen to $ 12.
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Rune is currently in a critical demand zone, which could be the make or break zone for rune. As soon as a reversal is seen, Rune could start a rally again and reach a new high.
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After Rune hit the $12 mark earlier this week, the coin consolidated. He could soon be preparing for a new rally.
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Rune has corrected to the Fibonacci retracement level of 0.5. A recovery could soon occur, as rune had reached the bottom at $ 12 before the strong increase in October.
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If the rune were to reverse, there could also be a price drop, which is a strong bullish pattern and could be a great sign for investors.
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Earlier this month, a golden cross-over was seen, suggesting that Rune may be continuing his rally soon.
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Investors müssen note that an entry should be made only when a clear reversal is seen and rune is able to break through $ 13.
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A new target of $15 could be set, followed by a new high of $17.1.
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A stop loss can be held below the zone at $ 11.5.
Conclusion
It might be a good idea to buy the burglary of Rune. However, investors should be patient and wait for a reversal before entering the long term. If there is a reversal now, it looks very bullish for the rune in the coming weeks. In the coming months, a new Höstatus could even be reached.
Should you buy the dip at Rune on Friday? appeared first on Coin Hero.