Market Overview for Rune (RUNEUSDT): 24-Hour Breakdown and Short-Term Outlook

• Rune (RUNEUSDT) traded in a 24-hour range of $1.573–$1.653, with a closing decline to $1.612 from $1.631.
• A bearish breakdown below the 20-period EMA and key support at $1.615 confirmed a short-term bearish bias.
• Volume spiked during the late ET sell-off, with turnover surging as Rune broke below critical Fibonacci levels.
• RSI and MACD both signaled oversold conditions, hinting at potential near-term stabilization or bounce.
• Volatility expanded as Rune’s price range widened, with Bollinger Bands reflecting increased market uncertainty.

Rune (RUNEUSDT) opened at $1.631 on July 18 at 12:00 ET and closed at $1.612 on July 19 at 12:00 ET, with a high of $1.653 and a low of $1.573. Total volume over the 24-hour period was 12.3 million, and notional turnover was approximately $19.9 million.

Structure & Formations

RUNEUSDT displayed a bearish breakdown over the 24-hour period, particularly after a large 15-minute candle on July 18 at 19:15 ET printed a high of $1.630 and a low of $1.608, closing at $1.611. This candle acted as a bearish engulfing pattern, confirming a shift in sentiment. A key support level emerged at $1.615, where price found multiple rejections, and a doji at $1.617 on July 19 at 06:00 ET signaled indecision and potential reversal. The 20-period EMA crossed below the 50-period EMA, reinforcing the bearish momentum.

Moving Averages

On the 15-minute chart, Rune closed below both the 20 and 50 EMA lines, suggesting short-term bearish momentum. The 50 EMA at $1.630 acted as a resistance during the morning ET session, while the 20 EMA at $1.625 failed to provide support during the afternoon sell-off. On the daily chart, Rune remains below the 50, 100, and 200-day moving averages, indicating a longer-term downtrend remains intact.

MACD & RSI

The MACD crossed below the signal line during the late ET sell-off, with a bearish divergence forming as price made lower highs while the MACD failed to confirm. RSI hit oversold territory below 30 for a brief period on July 19 in the early hours, suggesting potential for a near-term bounce. However, the RSI’s failure to hold above 30 during the following hours indicated ongoing selling pressure.

Bollinger Bands

Volatility expanded significantly during the sell-off, with the Bollinger Bands widening to reflect increased uncertainty. Price tested the lower band at $1.605 and $1.608, with a brief touch at $1.596 suggesting oversold conditions. The midline of the bands at $1.618 acted as a pivot, with price failing to close above it multiple times during the session.

Volume & Turnover

Volume surged during the late ET sell-off, particularly on the 19:15 ET candle, where 428,840.8 RUNE changed hands. This was the highest volume candle of the day, coinciding with a sharp price drop. Turnover also spiked during this period, confirming the bearish move. A divergence between price and volume appeared in the final hours, with volume declining as Rune hovered near key support levels, hinting at potential exhaustion in the sell-off.

Fibonacci Retracements

A key Fibonacci level at 61.8% of the previous 15-minute upswing (from $1.608 to $1.653) was at $1.625, which failed to hold during the afternoon sell-off. On the daily chart, the 38.2% retracement of the recent bullish leg was at $1.620, where price found resistance multiple times. The 61.8% level at $1.610 may act as a final support ahead of a potential breakdown.

RUNEUSDT may find temporary support near $1.610–$1.608 in the next 24 hours, with a potential bounce expected if RSI holds above 30. However, a break below $1.608 could accelerate the short-term decline. Investors should remain cautious, as volatility remains elevated and further downside risks persist.