Market Overview for Rune/Tether (RUNEUSDT): 24-Hour Analysis

• Rune/Tether (RUNEUSDT) declined over the past 24 hours, closing near session lows after a failed breakout attempt.
• Volatility expanded mid-session, with volume surging on bearish continuation into the latter half.
• RSI and MACD signaled bearish momentum, reinforcing oversold conditions near 1.137.
• Bollinger Bands widened, indicating increased uncertainty and possible range expansion.
• A strong support appears to form at 1.137–1.142, with resistance retested at 1.155–1.160.

Rune/Tether (RUNEUSDT) opened at 1.158 on 2025-10-08 12:00 ET and closed at 1.150 on 2025-10-09 12:00 ET, reaching a high of 1.184 and a low of 1.137. The pair experienced significant bearish pressure, with total volume amounting to 1,098,461.3 and total turnover of 1,274,642.9. The session saw a breakdown from a key resistance cluster, with bearish momentum dominating late in the session.

Structure & Formations

The 24-hour candlestick structure revealed a bearish continuation with several key formations. A large bearish engulfing pattern formed around 1.160–1.167, confirming a shift in momentum from bullish to bearish. A long-legged doji appeared near 1.137, indicating indecision and a potential support zone. The price failed to hold above 1.160, reinforcing its role as a key resistance level. The 1.137 level emerged as a strong support after a sharp correction from 1.142.

Moving Averages

Using 20- and 50-period moving averages on the 15-minute chart, the price spent much of the session below both indicators, confirming bearish bias. The 50-period MA acted as a resistance level, which the price failed to retest during the rebound. On a daily basis, the 50- and 200-period MAs are converging lower, suggesting a continuation of the bearish trend.

MACD & RSI

The 15-minute MACD showed a bearish crossover and negative histogram divergence as the price dropped from 1.160 to 1.137. RSI dropped into oversold territory, bottoming near 30, but has yet to show a convincing bearish divergence. The indicator may now be setting up for a potential rebound or consolidation phase.

Bollinger Bands

Volatility expanded significantly during the bearish phase, with Bollinger Bands widening as the price dropped from 1.160 to 1.137. The price closed near the lower band, suggesting that the move could be coming to a temporary halt. A pullback into the middle band may indicate a short-term equilibrium point before further direction is determined.

Volume & Turnover

Volume surged during the bearish move, especially between 1.160 and 1.142, confirming the breakdown. Turnover also increased in line with volume, showing that the bearish pressure was well-supported by liquidity. However, in the final 15 minutes, volume dropped sharply, indicating a potential short-term pause in the bearish momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 1.184–1.137 swing, the 1.147 and 1.155 levels correspond to 23.6% and 38.2% retracement levels, respectively. These areas appear to be key potential support and resistance levels. The 61.8% level at 1.160 may act as a reentry point for bears.

Backtest Hypothesis

The backtesting strategy focuses on identifying bearish continuation patterns with strong volume confirmation and key support breakdowns. A trade entry would be triggered when the price closes below a key support level (e.g., 1.137) with increasing volume and bearish divergence in the RSI. A stop-loss would be placed just above the breakdown candle’s high, while a take-profit target is set at the 38.2% Fibonacci level of the recent bearish move. The strategy would also incorporate a time-based exit if the price fails to break the 50-period MA within the next 12 hours.