Market Overview for Rune/Tether (RUNEUSDT) on 2025-11-05

Summary
• Rune/Tether (RUNEUSDT) opened at $0.761 and closed at $0.749 after a 24-hour period, with a high of $0.771 and low of $0.716.
• A bearish bias is evident with the price closing below key moving averages and a 1.2% price depreciation.
• Volume remains elevated in the late session, confirming a strong sell-off from $0.771 to $0.737.

Rune/Tether (RUNEUSDT) opened at $0.761 on 2025-11-04 and closed at $0.749 by 12:00 ET on 2025-11-05. The 24-hour range extended from a high of $0.771 to a low of $0.716, with total traded volume reaching 7,021,200.0 and a notional turnover of $5,342,590.94. This marks a bearish reversal from the early morning resistance cluster around $0.770, with the price consolidating below key technical benchmarks at the 24-hour mark.

Structure & Formations

The price structure shows a bearish breakdown below the $0.755 support level, confirmed by a bearish engulfing pattern at $0.771. A doji candle at $0.751 in the early hours of 2025-11-05 indicates indecision, but the following bearish close suggests renewed selling pressure. A bearish trend appears to have reestablished itself, with key support levels at $0.735 and $0.725 likely to be tested in the near term.

Moving Averages

On the 15-minute chart, the price closed below both the 20-EMA and 50-EMA, reinforcing a bearish momentum. While the 20-EMA was last at $0.757, the 50-EMA had dropped to $0.753 by 12:00 ET. On the daily chart, the 50-, 100-, and 200-day SMAs are expected to confirm the bearish bias once updated data is available. The current price action could suggest a continuation of the downward trend.

MACD & RSI

The 15-minute MACD line crossed below the signal line at midday, with negative divergence indicating potential bearish momentum. The RSI stands at ~45, signaling moderate oversold conditions but not extreme ones. This suggests that while the price has pulled back, it is not overextended in the short term and could see some consolidation or a test of key support levels before resuming the downward trend.

Bollinger Bands

The Bollinger Bands have widened significantly during the morning sell-off, reflecting heightened volatility. By 12:00 ET, the price was positioned near the lower band, indicating a potential overreaction in the short term. A retest of the midline at ~$0.746 could be expected, especially if the RSI shows signs of stabilizing or turning bullish.

Volume & Turnover

Volume picked up significantly in the early hours, with a large block of 853,442.8 at $0.741 confirming a key breakdown. Turnover also spiked in that period, aligning with the price drop. A divergence between volume and price action is not evident in the latest 15-minute data, suggesting that the recent bearish move was supported by strong liquidity.

Fibonacci Retracements

Using the recent swing high at $0.771 and low at $0.716, the 38.2% Fibonacci retracement level is at $0.747, which the price has already tested. The 61.8% level lies at $0.732, which is likely to be the next critical support. A break below $0.732 could signal a continuation of the bearish move toward the next key support level.

Backtest Hypothesis

Given the current bearish momentum and proximity to key Fibonacci levels, a backtest using RSI-14 as an overbought trigger (commonly set at 70) could be implemented for RUNEUSDT. This would involve entering short positions when RSI crosses above 70, with a 5% stop-loss and 10% take-profit. Using the symbol format “RUNE-USDT” as requested, the strategy could be validated from 2022-01-01 to present. Given today’s RSI reading of ~45, the market does not currently meet overbought conditions, but a potential rebound to 70 could offer a shorting opportunity.