Summary
• Rune/Tether consolidates near 0.673–0.683 range, showing 20-period MA support.
• Momentum turns bearish in late ET hours, with RSI dipping below 50.
• Volatility spikes midday, but turnover does not confirm strong directional bias.
• Key resistance at 0.685–0.688; break above may trigger retest of 0.69.
• A bullish engulfing pattern forms near 0.677, suggesting short-term buying interest.
At 12:00 ET–1, Rune/Tether (RUNEUSDT) opened at 0.652, reached a high of 0.685, a low of 0.65, and closed at 0.681 by 12:00 ET. Total 24-hour volume was 6,706,142.2 and turnover was approximately 4,494,540.5.
Structure & Formations
Price action on the 5-minute chart reveals a key consolidation between 0.673 and 0.683.
A bullish engulfing pattern emerged near 0.677, suggesting short-term buying pressure. The 20-period moving average at 0.675 offers support, while the 0.685–0.688 area marks key resistance that could trigger a retest of 0.69 if breached.
Moving Averages
The 50-period MA sits at 0.679, aligning with a key Fibonacci retracement level (61.8% of the 0.65 to 0.683 move). Price action appears to be converging with this level, suggesting a potential pivot point. Daily moving averages (50, 100, 200) remain neutral, with no clear directional bias.
Momentum and Volatility
Momentum turned bearish in the late ET hours, with RSI dropping below 50 and moving toward 47 by 16:00 ET. MACD remained in positive territory but showed flattening, indicating waning upward momentum. Volatility spiked midday during the 0.67 to 0.683 range, but turnover failed to confirm strong directional bias.
Volume and Turnover
Volume and turnover showed a moderate increase midday, with a peak at 0.685. A divergence between price and turnover was noted during the 0.683 to 0.673 consolidation, suggesting mixed sentiment. Turnover remained elevated during the 0.677 to 0.683 move, indicating potential accumulation.
Fibonacci Retracements
A key Fibonacci retracement at 0.673 (38.2%) acted as support earlier in the day, with a retest of 0.683 (61.8%) expected if buyers hold. Daily Fibonacci levels show 0.665 and 0.69 as potential areas of interest over the next 24 hours.
Looking ahead, Rune/Tether may remain in a tight consolidation unless a breakout above 0.685–0.688 confirms bullish momentum. Investors should remain cautious of potential bearish divergence and monitor volume for confirmation of any directional shift.
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