In the midst of bearish trends affecting the cryptocurrency market, the RUNE price has surged by more than 8% in the last 24 hours and 23.16% in the past week, reflecting an increasing positive sentiment towards the altcoin in the crypto community.

Initially, the RUNE price remained stable, fluctuating between $3.50 and $6.130 for the first two months. However, as market volatility heightened, bullish momentum picked up, propelling the price up by 108.96% over the next seven days.

Following a rejection above $9.950 resistance level, the bulls lost strength, causing a 30.97% correction in the THORChain price. Subsequently, the RUNE token traded sideways for a period, but failed to hold above the $7.335 support level as volatility increased, leading to a 35.37% decline in value.

The price is currently ranging between $4.740 and $6.130 and is approaching a test of its resistance level, with the EMA 50-day acting as a barrier, indicating a bearish sentiment prevailing in the market. The Relative Strength Index (RSI) shows a notable increase, pointing towards a rise in buying pressure versus selling pressure, with the average suggesting the price will likely appreciate in the near future.

If the market successfully pushes the RUNE price above $6.130, the bulls are expected to sustain a positive momentum towards testing the $7.335 resistance level. Conversely, if a bearish reversal occurs, the token may drop towards the critical support at $4.740 in the upcoming period.