Market Overview for Rune/Tether (RUNEUSDT)

Summary
• Price dropped 18.6% in 24 hours, closing near key support at 0.763–0.764.
• High volume consolidation at lower levels suggests potential reversal setup.
• RSI (14) shows oversold conditions, but momentum remains bearish.
• Volatility increased as price dropped into Bollinger Band lower zone.
• Downtrend confirmed by bearish engulfing and rejection patterns below 0.785.

Rune/Tether (RUNEUSDT) traded in a sharp bearish trend over the past 24 hours, opening at 0.792 and closing at 0.754 at 12:00 ET. The price touched a high of 0.802 and a low of 0.753. Total volume amounted to 19,672,650 units, while notional turnover reached approximately $15.2 million. A clear breakdown from key support levels below 0.785 confirmed the downward bias, with bearish engulfing and rejection candles reinforcing the sentiment.

On the 15-minute chart, the 20 and 50-period moving averages are both in bearish crossover, aligning with the daily 50, 100, and 200 MA all in descending order. The price is currently below both, confirming the downtrend. Key support levels identified are 0.763–0.764 (prior swing low), and 0.758–0.760 (another potential bounce zone). Resistance levels to watch include 0.773–0.775 and 0.783–0.785, where multiple rejection candles occurred.

The MACD histogram has been negative for most of the session, with a bearish crossover confirming momentum to the downside. RSI (14) reached oversold territory around 25, signaling a potential bounce but with a bearish bias unless a strong reversal candle forms. Bollinger Bands show increased volatility, with price currently sitting near the lower band at 0.753–0.758. A retest of the upper band at 0.772–0.775 could offer a short-term profit opportunity.

Volume has surged on the breakdown below 0.785, confirming the bearish move, but has decreased slightly in the 0.763–0.753 range, suggesting a possible consolidation phase. Fibonacci retracement levels for the 0.802–0.753 swing show 0.774 (38.2%) and 0.765 (61.8%) as critical levels to monitor for potential retests. A close above 0.772 could challenge the 0.775–0.778 resistance zone.

The backtest strategy described earlier relies on accurate price data from a recognized ticker symbol, which is currently missing. Without valid price data from a supported exchange (e.g., RUNEUSDT.BINANCE), the signal generation and strategy evaluation cannot proceed. Once a correct ticker is provided, signals can be triggered based on key support levels like 0.763 and retracement levels, with a focus on candlestick patterns and momentum indicators like RSI and MACD to confirm entry and exit points.