Rune/Tether Bounces From 0.416 as Volume Surges in Final Hours

Summary
• Rune/Tether fluctuated between 0.406 and 0.428 on a 24-hour 5-minute chart, with key support at 0.416 and resistance near 0.423.
• Momentum slowed mid-session, as RSI dipped into oversold territory before stabilizing into consolidation.
• Volume spiked in the final 4.5 hours, confirming a late rally from 0.412 to 0.422, but diverged from price during the earlier downtrend.
• Bollinger Bands showed moderate expansion in the morning, narrowing again after 18:00 ET, hinting at potential directionality.
• A bullish engulfing pattern formed at 0.416, suggesting potential for a short-term bounce in the near term.

Opening to Closing and Key Metrics

At 12:00 ET - 1, Rune/Tether (RUNEUSDT) opened at 0.42, reaching a high of 0.428 and a low of 0.406 before closing at 0.418 at 12:00 ET. The 24-hour volume totaled 12,138,028.7, with a notional turnover of 5,051,912.19.

Structure & Momentum Analysis

Price action formed a bullish engulfing candle at 0.416 and a morning doji near 0.423, signaling indecision before a late rally. A 50-period EMA on the 5-minute chart showed a slight upward tilt, while the 200-period daily EMA remained above current levels. MACD crossed neutral in the final 3 hours, hinting at renewed momentum. RSI dipped to 30 before stabilizing, suggesting potential for a countertrend move.

Volatility and Fibonacci Observations

Bollinger Bands widened during early trading before narrowing after 18:00 ET, suggesting potential for a breakout or continuation. A 61.8% Fibonacci level on the day’s move sat at 0.416, aligning with recent support. Volume surged after 15:45 ET, confirming a move up to 0.422, but diverged slightly from price during the earlier decline.

Implications and Forward Outlook

With the price consolidating above key support at 0.416 and volume picking up on the rebound, Rune/Tether may test resistance at 0.423 in the next 24 hours. However, traders should remain cautious as the 200-day EMA and broader trend remain bearish, and a break below 0.415 could rekindle selling pressure.