Market Overview for Rune/Tether (RUNEUSDT) – 2025-10-03

• Rune/Tether (RUNEUSDT) formed a bullish engulfing pattern after midday ET, suggesting potential short-term strength.
• Price traded within a 1.193–1.231 range, with 1.213–1.218 as key intraday support/resistance.
• Volatility expanded during the 16:00–18:00 ET session, with over $843,490 notional turnover.
• RSI entered overbought territory briefly, but failed to confirm strong bullish momentum.
• Volume diverged during the closing hours, hinting at mixed sentiment ahead.

Rune/Tether (RUNEUSDT) opened at 1.198 on 2025-10-02 12:00 ET, reaching a high of 1.231 by the close of the 24-hour period. The pair closed at 1.230 on 2025-10-03 12:00 ET. Total volume was 3.45 million RUNE, and turnover amounted to approximately $4.23 million.

Structure and formations reveal a complex intraday pattern. A bullish engulfing pattern emerged after 19:15 ET, suggesting short-term buyers regained control. However, this was followed by a large bearish candle at 18:45 ET, which pulled price back toward 1.213. Key support appears at 1.213 and 1.208, with resistance clustering at 1.218 and 1.226. A doji appeared at 19:45 ET, signaling indecision after a brief rally.

Price remained within a tight Bollinger Band range for most of the session, only expanding volatility during the 16:00–18:00 ET window. MACD crossed above the signal line during the early evening, supporting a short-term bullish bias, though RSI failed to confirm with a strong overbought move. Fibonacci retracement levels indicate 1.213 (38.2%) and 1.208 (61.8%) as critical support levels for the recent 1.198–1.231 swing.

Volume was unevenly distributed, with a sharp spike during the 16:00–18:00 ET surge. Notional turnover surged past $843,490 during that window, confirming the price action. However, during the final 4 hours of the session, volume declined despite price consolidation, suggesting fading momentum and mixed market sentiment.

The RSI and MACD indicators appear to provide a viable entry point for the backtest strategy. A bullish crossover in MACD occurred during a period of high volume and expanding volatility, aligning with the strategy’s focus on momentum and divergence. The RSI’s failure to maintain overbought levels may suggest a potential pullback, offering an opportunity for a short-term long trade if price holds above 1.213.