Multiple Pattern analysis on RUNEUSDT 30m chart.
Chart Analysis: RUNE/USDT
Pattern Formation
- Symmetrical Triangle: The chart shows a symmetrical triangle pattern (green dotted lines), indicating potential price consolidation before a breakout in either direction.
- Ascending Channel: The green trendlines form an ascending channel within the broader symmetrical triangle, suggesting a bullish bias in the short term.
Volume Profile Analysis
- High Volume Nodes:
- Significant volume is concentrated around the 4.740 level, suggesting strong trading interest and potential support/resistance zones.
Price Action Analysis
1. Top Right (1-Month Candle Chart):
- Trend: The monthly chart shows an overall uptrend with higher highs and higher lows.
- Candlestick Patterns: Recent monthly candles are predominantly green, indicating sustained bullish momentum.
2. Mid Right (2-Week Candle Chart):
- Trend: The 2-week chart shows a continuation of the uptrend, with the price consolidating near recent highs.
- Candlestick Patterns: Recent candles are mixed, but the overall trend remains bullish.
3. Bottom Right (Weekly Candle Chart):
- Trend: The weekly chart shows an upward trend, though recent candles indicate some consolidation or minor pullback.
- Candlestick Patterns: Recent green candles suggest potential continuation of the bullish trend after consolidation.
Disclaimer
This analysis is provided for informational purposes only and should not be considered financial advice. Trading financial instruments involves risk, and you should perform your own research and analysis before making any investment decisions. Always consult with a professional financial advisor.
Pattern Formation
- Symmetrical Triangle: The chart shows a symmetrical triangle pattern (green dotted lines), indicating potential price consolidation before a breakout in either direction.
- Ascending Channel: The green trendlines form an ascending channel within the broader symmetrical triangle, suggesting a bullish bias in the short term.
Volume Profile Analysis
- High Volume Nodes:
- Significant volume is concentrated around the 4.740 level, suggesting strong trading interest and potential support/resistance zones.
Price Action Analysis
1. Top Right (1-Month Candle Chart):
- Trend: The monthly chart shows an overall uptrend with higher highs and higher lows.
- Candlestick Patterns: Recent monthly candles are predominantly green, indicating sustained bullish momentum.
2. Mid Right (2-Week Candle Chart):
- Trend: The 2-week chart shows a continuation of the uptrend, with the price consolidating near recent highs.
- Candlestick Patterns: Recent candles are mixed, but the overall trend remains bullish.
3. Bottom Right (Weekly Candle Chart):
- Trend: The weekly chart shows an upward trend, though recent candles indicate some consolidation or minor pullback.
- Candlestick Patterns: Recent green candles suggest potential continuation of the bullish trend after consolidation.
Disclaimer
This analysis is provided for informational purposes only and should not be considered financial advice. Trading financial instruments involves risk, and you should perform your own research and analysis before making any investment decisions. Always consult with a professional financial advisor.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.