Market Overview: Rune/Tether (RUNEUSDT) – 24-Hour Technical Breakdown

• Rune/Tether (RUNEUSDT) advanced 3.9% over 24 hours, closing at 0.937 after a bullish breakout above 0.93.
• Momentum strengthened midday with RSI hitting overbought levels, while volume surged 22% in the final 6 hours.
• A key 0.913 support held twice, and price retested the upper Bollinger Band near 0.936–0.938 in the final 4 hours.
• Fibonacci 61.8% retracement at 0.935 was a tight resistance level that was cleared late afternoon.
• MACD crossed above zero and maintained bullish divergence, but caution is needed as price approaches daily EMA confluence.

Rune/Tether (RUNEUSDT) opened at 0.905 on 2025-10-12 at 12:00 ET and surged to a 24-hour high of 0.944 before consolidating near 0.937 at 12:00 ET on 2025-10-13. The price settled at 0.937, up 3.9% for the session. Total trading volume reached 19.1 million RUNE, and notional turnover hit $17.6 million, with notable buying pressure evident in the final 6 hours of the 24-hour window.

The price action showed a clear bullish breakout above the 0.93–0.935 resistance cluster. A Bullish Engulfing pattern formed around 16:30–17:00 ET, followed by a Bullish Harami near 0.916–0.918 that marked a key support retest. Price bounced off the 20/50 EMA crossover point and extended higher through a sequence of higher highs and higher lows, indicating a strong short-term bullish bias.

Price traded within a volatility expansion, stretching Bollinger Bands to a width of ~0.018 at the peak. This suggests heightened conviction in the bullish trend, with price closing near the upper band at 0.937. The 50-period EMA was breached in the last 2 hours of the session, adding technical momentum. Key Fibonacci levels at 0.935 (61.8%) and 0.929 (38.2%) were tested multiple times, with the 0.935 level being broken decisively in the final candle.

The RSI reached 70 in the 4 hours leading up to the close, signaling potential overbought conditions, while the MACD crossed above zero with a positive histogram, suggesting ongoing bullish momentum. A volume spike of 489,279.8 RUNE in the 11:15–12:00 ET period confirmed the breakout. However, a bearish divergence between price and RSI may emerge if the current trend does not hold above 0.935–0.937.

Backtest Hypothesis

The backtesting strategy proposed focuses on pattern-driven opportunities using candlestick patterns such as Bullish Engulfing and Morning Star on daily timeframes. Given the recent strength in RUNEUSDT and the confirmed breakout above key resistance, identifying these patterns could offer a rules-based approach to capturing momentum. A trade signal would trigger at the open of the next day after pattern confirmation and exit at that session’s close. With daily data expected to reflect continued bullish bias in the coming days, this strategy may offer a robust framework for capturing continuation in the short term. If daily data supports the presence of these patterns, they could serve as high-probability entry triggers for a structured position.