RUNE Approaching Key Breakout Levels After Completing Major Correction

Daily Chart Outlook:

RUNEUSD is finally showing signs of recovery after completing what appears to be the final subwave 5 of (5) within wave C. The recent breakout above the channel resistance line, along with a move above the base channel’s upper boundary, suggests that a meaningful low could be in place.

This technical shift indicates that support is likely forming, but confirmation is still needed. The key signal to watch is an impulsive five-wave rally. If price continues higher toward the 0.68 level and maintains strong structure, it would be the first sign that bulls are regaining control. A further push above the 0.96 level would provide much stronger confirmation of a broader trend reversal.

Until then, the current move can still be viewed as an early-stage recovery, with momentum building but not yet fully confirmed.

Weekly Chart Outlook:

On the higher timeframe, the structure appears even more constructive. The weekly chart suggests that RUNE may have completed a large and deep ABC corrective pattern, which has been developing over an extended period.

If this interpretation is correct, the recent price action could mark the transition from a corrective phase into a new impulsive cycle. This would align with the early breakout signals seen on the daily chart.

A completed ABC correction on the weekly timeframe often precedes a stronger, sustained move higher. However, as always, confirmation from lower timeframes, particularly through impulsive price action, is essential before fully committing to a bullish outlook.

Overall, RUNE is at a technically important turning point. While early signs of a bottom are in place, the next moves, especially around the 0.68 and 0.96 levels, will be critical in determining whether this is the start of a larger bullish trend.