## <center> Good day Hiveians!</center>

### <center> Join me in analyzing the crypto markets!</center> 

 
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### It's been some time since we looked at RUNE

Lately RUNE has been outperforming the market in general. It all started after the Ukraine-Russia conflict which led to many sanctions against Russia. The talk was, and still is, about cryptos and their capability to circumvent sanctions. As users on CEXs can be blacklisted this moved the spotlight to DEFI projects (like RUNE) where blacklisting is generally not possible. I therefore think that this is the main reason for RUNE's recent rally. This is also strengthened by the prospect of listing privacy coins on the RUNE network as we noted last time:

>THORchain is also adding some privacy coins. With DASH being the first one it will attract a big deal of attention as many people will want to trade privacy coins on DEXs. This should be perhaps all it needs to reach the mentioned price target.

We are now spot [on to the projection I gave a month ago](https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-revised-outlook-for-rune). We had this outlook:


![image.png](https://files.peakd.com/file/peakd-hive/tobetada/23tcP5UcRwA5eFhkyaEwRoFUbo8svY2ghiFia32zTERTMvwMLhQyPjGUYRPZ845iZJe6T.png)


![image.png](https://files.peakd.com/file/peakd-hive/tobetada/23tSym8hNSfrKDx4ScAEmsAXjDEWHB7GDjMEKbMKiqSRVekEHdo3Pab5YEKtgXin8ce8g.png)

So that's what I would call a successful prediction :)

Let's have a closer look: The main reason on the technical level for the recent breakout is the breach of the trend line acting as a resistance. As usual, it was retested and since it held, price continued to go further upwards. 


![image.png](https://files.peakd.com/file/peakd-hive/tobetada/23tmm5sZFQpU38eip28aB7CDwyVvbXksMucepBQHLDYv73zsicEentxppRpN3XUYDgG1X.png)

The next resistance is now sitting at the trend line connecting the previous highs which is at around $10-$13. I would fully expect a correction back to about $8, or about 30-40% once price hits that area.

![image.png](https://files.peakd.com/file/peakd-hive/tobetada/23tcNRVym4VwkLqV83WteqGcij2zqCKVic9XwYkC68X6ivTkoZa5QcjUDmb4oUJ2sh3Qf.png)

After some weeks, price should continue its rally with the next stop possibly being at $20-$30. This would leave room for one final push which I last time described like this:

>As you can see I am expecting a 3 wave pattern which should break the resistance trend line coming from the previous ATHs as this is a fairly low price range. The impulse wave converges with the former support (which is a theme that I am seeing for most coins) and would reach about $50 for the summer. This is roughly a potential 10x and does not seem too "high in the skies".


![image.png](https://files.peakd.com/file/peakd-hive/tobetada/23tHb6kpm2w9GQXyL2J3FrrZWShrULtHcNNCbb933mW9TbN8pFtNt2je8VRF29QJGBWw3.png)


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*As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!*


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