Market Overview for Rune/Tether on 2025-12-12

Summary
• Rune/Tether traded in a defined range today, with a 0.652–0.683 consolidation channel.
• A bearish engulfing pattern formed near 0.683, indicating short-term resistance.
• Volume surged at 19:30–20:00 ET, coinciding with a failed breakout attempt.
• RSI signaled overbought conditions in the afternoon, followed by a correction.
• Volatility expanded mid-day before contracting in the final hours.

Rune/Tether (RUNEUSDT) opened at 0.656 on 2025-12-11 at 12:00 ET, reached a high of 0.683, a low of 0.646, and closed at 0.639 as of 12:00 ET on 2025-12-12. Total volume for the 24-hour period was 1,851,645.0, with a notional turnover of $1,248,296.45.

Structure & Formations

Price action was defined by a clear consolidation range between 0.652 and 0.683. A bearish engulfing pattern formed near the upper boundary during the afternoon, reinforcing resistance at 0.683. A doji formed at 0.673 late in the day, suggesting indecision. Support appears to be forming at 0.646, with 0.656 acting as a secondary support level.

Moving Averages

On the 5-minute chart, the 20-period MA crossed above the 50-period MA in the early hours, signaling short-term bullish momentum. However, by the afternoon, the 50-period MA crossed below the 20-period MA, indicating bearish divergence. On the daily chart, the 50-period MA sits above the 100-period MA, though price remains below both.

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MACD & RSI

The MACD line turned bearish in the early afternoon, with a bearish crossover. RSI hit overbought territory (above 70) during the midday rally, followed by a sharp correction into oversold territory. This suggests short-term exhaustion on both the long and short side.

Bollinger Bands

Volatility expanded between 19:00–20:30 ET, with price moving near the upper band, before a sharp contraction into the lower band by the final hours. Price closed near the middle band, indicating a possible recentering of the range.

Volume & Turnover

Volume spiked during the attempted breakout above 0.683, reaching 90,689.0 in the 21:30–21:45 ET session. However, this failed to result in a sustained move, suggesting resistance. Turnover remained consistent with volume, with no major divergences noted.

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Fibonacci Retracements

A recent 5-minute swing from 0.646 to 0.683 shows 61.8% retracement at 0.666, where price stalled twice. On the daily chart, the 38.2% retracement level at 0.653 appears to have provided short-term support during the late afternoon selloff.

Price may test the 0.646 support level in the near term, with a potential bounce if the level holds. A break below could see further downside risk to 0.635. Investors should monitor the 0.656–0.666 range for signs of reversal.