The Price of RUNE is stuck in a descending triangle

After bouncing off support about a week ago the price of rune hit its head on the descending trendline and is not far from support again.

Breakout or Breakdown?

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When we look at the chart above, the question really is: Breakout or Breakdown?

The apex of the triangle is coming near, the downward trendline is pretty sound with 3 consecutive lower lows pretty evident so either price busts out or that support line may finally be violated.

It really doesn't look all that bullish, which sucks because I have a moonbag on RUNE as I love the project long-term.

But this post is about the near-term and in that time frame the bears look to be in control at the moment.

As I always say, we shall see.

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