Market Overview for Rune/Tether (RUNEUSDT): 24-Hour Price Behavior and Market Sentiment

• Rune/Tether (RUNEUSDT) dipped to 1.173 before closing near 1.196, signaling a modest recovery from intraday lows.
• The pair experienced elevated volume near the 1.170–1.180 range, indicating key support was tested.
• A bullish reversal pattern formed near 1.172–1.175, coinciding with a volume spike and a pullback from recent highs.
• RSI hit oversold conditions briefly, suggesting short-term momentum may favor buyers.
• Volatility remained high, with prices oscillating between 1.173 and 1.205 over the past 24 hours.

Rune/Tether (RUNEUSDT) opened at 1.200 on 2025-09-23 12:00 ET and closed at 1.196 at the same time on 2025-09-24. The pair reached a high of 1.205 and a low of 1.173 over the 24-hour period. Total trading volume amounted to 1,974,409.1, with a notional turnover of $2,378,767.10 (calculated using price × volume). The pair experienced a bearish pullback followed by a modest rebound, with key support levels tested and partially validated.

1. Structure & Formations

The 15-minute chart showed a clear bearish breakdown from 1.195 to 1.173 in the early evening hours, followed by a consolidation phase and a subsequent reversal. A bullish engulfing pattern formed near 1.172–1.175, which coincided with high volume. This suggests the price may have found meaningful support. A doji near 1.180 and 1.195 also indicates indecision at key levels, while 1.205 appears to be a short-term resistance level that failed to hold during a late afternoon rally.

2. Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are trending downward, reflecting the recent bearish momentum. However, the 50-period line is now beginning to flatten as price approaches it from below, suggesting a potential convergence and a possible retesting of the MA for support. On the daily chart, the 50/100/200-period averages remain in a bearish alignment, but a slight flattening of the 200-day line indicates the trend may be easing.

3. MACD & RSI

The MACD line dipped into negative territory during the price decline, confirming the bearish move, while the histogram showed a contraction near the 1.170 level, hinting at a potential reversal. RSI reached oversold territory (below 30) around 1.173 and has since rebounded, suggesting buyers may be stepping in. The RSI is now approaching the 50 level, indicating a shift in momentum and possibly the start of a countertrend move.

4. Bollinger Bands

Bollinger Bands expanded during the sharp decline to 1.173, with price hitting the lower band. This contraction and expansion pattern is typical of a consolidation phase. Currently, price sits near the middle band, indicating a balanced short-term bias with potential for either continuation or reversal depending on volume behavior and follow-through.

5. Volume & Turnover

Volume spiked near 1.170–1.180, particularly during the 15:45–16:30 ET range, confirming the strength of support at that level. Turnover also showed an uptick during the rebound from 1.173 to 1.196, suggesting renewed buyer interest. No significant price-volume divergence was observed, which indicates that the move higher has some conviction.

6. Fibonacci Retracements

On the 15-minute chart, the 61.8% retracement level from the 1.205–1.173 swing is at 1.189, which the price approached and held above for much of the session. The 38.2% level at 1.196 coincided with the 12:00 ET closing price, suggesting a potential area of resistance. On the daily chart, the 61.8% retracement of a larger bearish move may be a key target for further buying interest, though this remains untested for now.

Backtest Hypothesis

Given the observed bullish engulfing pattern near 1.172 and the confirmed support at 1.170–1.180, a backtesting strategy could focus on a long-entry setup with a stop-loss below 1.169 and a target near the 38.2% retracement at 1.196. This approach would rely on the assumption that the support level will hold and buyers will push the price back toward the key Fibonacci level. The RSI’s recent oversold condition and the volume confirmation during the rebound both support this hypothesis. The MACD’s negative divergence during the breakdown and its convergence during the rebound further align with the idea of a short-term reversal trade. This setup is best used with a 15-minute or 1-hour time frame for entry, with a trailing stop used once the price confirms above 1.200 to lock in gains.

The near-term outlook suggests Rune/Tether may consolidate near 1.195–1.200, with buyers likely to test the 1.205 resistance if the 1.172–1.180 support holds. However, sellers could re-engage if the price dips below 1.180, leading to a retest of 1.173. Investors should remain cautious of the broader bearish daily trend and monitor volume behavior for signs of follow-through.