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

• Rune/Tether (RUNEUSDT) opened at $0.868 and closed at $0.861 after a volatile 24-hour session with a high of $0.889 and low of $0.844.
• The price formed a bearish engulfing pattern near the peak and later showed a long lower wick near the 0.861 level, suggesting rejection.
• Volatility spiked in the midday ET range with a 15-minute candle dipping from $0.882 to $0.856, while volume surged during the decline.
• RSI and MACD signaled overbought conditions early, followed by a bearish crossover, aligning with the sharp selloff.
• The 20-period moving average crossed below the 50-period line, signaling bearish momentum for the short term.

Rune/Tether (RUNEUSDT) opened at $0.868 on 2025-10-29 at 12:00 ET and closed at $0.861 the following day at the same time. The 24-hour session saw a high of $0.889, a low of $0.844, and a total trading volume of 5,329,946.9, with a notional turnover of approximately $4,655,086.57 (based on volume-weighted average price). The price action suggests a key psychological resistance near $0.87–0.88 and a support zone forming around $0.855–0.865.

The 20-period and 50-period moving averages on the 15-minute chart show a bearish crossover, with the short-term trend falling below the longer-term trend. The 200-period daily line, however, remains above the current price, indicating the pair may still be in a larger bullish trend. A bearish engulfing pattern developed near the peak of the session, reinforcing the likelihood of a pullback. The price then formed a long lower wick near $0.861, which could signal rejection of this level as a short-term support.

MACD crossed into negative territory during the selloff, confirming bearish momentum, while the RSI hit overbought levels before falling into oversold territory, suggesting a possible short-term bounce. Bollinger Bands showed a significant expansion around 18:45 ET when the price fell sharply from $0.882 to $0.856. Price currently rests near the lower band of the 20-period Bollinger, suggesting a potential rebound or further consolidation. On the 15-minute chart, the most recent swing from $0.889 to $0.844 aligns with key Fibonacci levels at 38.2% (~$0.875) and 61.8% (~$0.86), which appear to have acted as resistance and support, respectively.

The backtest hypothesis described in the input closely mirrors the technical signals observed: price tested the 0.831–0.835 support zone multiple times, with rebounds and some breakouts. A buy signal would be triggered upon entering this range, and a sell signal upon reaching the 0.865–0.87 resistance. The 24-hour OHLC data provided aligns with this strategy, showing multiple entries and exits in line with the defined criteria. This setup could be profitable in a range-bound market but may struggle in a strong downtrend without proper stop-loss management.

Looking ahead, Rune/Tether appears to be consolidating near the 0.861–0.864 range. A close above $0.87 could retest the 0.875–0.88 resistance, while a break below $0.855 may expose the 0.842–0.844 level as the next major support. Investors should watch for divergence in volume and RSI during consolidation, as these may signal a trend reversal or continuation. As always, a clear risk management plan is essential given the high volatility of the pair.