Rune/Tether Market Overview – 24-Hour Candlestick Summary

• Rune/Tether (RUNEUSDT) rose from 1.122 to 1.149, showing a bullish breakout from consolidation.
• Momentum remains strong with RSI above 60 and volume surging to 1.152.
• Price retested key support at 1.135–1.138, forming potential reversal patterns.
• Volatility expanded with Bollinger Band widening, indicating heightened trading activity.
• Downturns from 1.149 saw volume divergence, suggesting limited follow-through bearish pressure.

Rune/Tether (RUNEUSDT) opened at 1.122 at 12:00 ET − 1 and advanced to a high of 1.152 before closing at 1.131 at 12:00 ET today. Over the 24-hour period, total volume amounted to 1,733,943.1 and turnover reached approximately $1.98 million. The price action displayed clear signs of bullish momentum, particularly between 16:00 and 18:30 ET, when the pair broke out of a tight range and surged past 1.140.

Structure & Formations

The price action of RUNEUSDT formed several notable patterns over the past 24 hours. A bullish engulfing pattern emerged at 17:30–18:00 ET as the price surged from 1.145 to 1.152, confirming a reversal from a prior bearish trend. Later, at 18:30–18:45 ET, a bearish harami appeared at 1.151–1.145, hinting at exhaustion in the short-term bullish move. Key support levels were observed at 1.138 and 1.135, both of which held during downward retracements. Resistance remains at 1.148–1.152, where price stalled before pulling back.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward, with the 20SMA crossing above the 50SMA twice during the late afternoon and early evening hours, signaling a short-term bullish bias. On the daily chart, the 50-period and 200-period moving averages remained in a bullish crossover position, indicating the trend is intact. The 100-period MA acted as dynamic support during the retracement in early morning hours, reinforcing the presence of medium-term bullish structure.

MACD & RSI

The MACD remained in positive territory for most of the day, with a strong bullish crossover at 17:30 ET and a subsequent bearish divergence forming at 20:00 ET as the price failed to confirm a new high. The RSI moved into overbought territory above 65, but did not exceed 70, suggesting the move had not yet become fully extended. After peaking near 1.152, the RSI pulled back to 58–60, indicating that momentum is still in favor of the bulls but with caution warranted.

Bollinger Bands

Bollinger Bands expanded significantly during the breakout phase, with the 20-period standard deviation widening to accommodate the surge from 1.140 to 1.152. Price remained above the upper band for short periods during the afternoon, indicating strong conviction in the bullish move. After the 18:45 ET candle, the bands began to contract slightly, signaling a potential slowdown in momentum. Currently, the price is sitting near the middle band, suggesting consolidation may be underway.

Volume & Turnover

Volume spiked during the breakout phase, particularly on the 17:30–18:00 ET candles, where turnover increased by over 100,000. The highest single candle volume was recorded at 193,300.9 during the 17:30–17:45 ET period. Notably, the volume during the subsequent pullback from 1.149 to 1.138 remained lower than the breakout volume, indicating limited bearish conviction. This divergence between price and volume may suggest that the correction is not backed by strong bearish intent.

Fibonacci Retracements

The most recent 15-minute move from 1.140 to 1.152 was retraced at key Fibonacci levels. The 38.2% retracement level at 1.145 acted as a magnet for price and was briefly held during the 21:45–22:00 ET period. The 61.8% level at 1.138 became a crucial support zone, with the price testing this level twice during the overnight and early morning hours. On the daily chart, the 50% Fibonacci level of the broader move from 1.124 to 1.152 lies at 1.138, which aligns with the 15-minute key support.

Backtest Hypothesis

A potential backtesting strategy could focus on confirming breakouts from tight ranges using candlestick patterns and volume surges as entry triggers. Given the recent engulfing pattern at 1.145–1.152 and the strong volume confirmation, a long position at the open of the 17:30 ET candle could have been justified with a stop loss just below 1.140. The pullback to 1.138 offers a secondary long setup, as the 61.8% Fibonacci and Bollinger Band support align. A trailing stop at 1.135–1.133 could help lock in gains while allowing for further upside potential. The MACD divergence at 20:00 ET serves as a natural exit signal if the price fails to regain momentum.