Market Overview: dogwifhat/Tether (WIFUSDT) 24-Hour Technical Summary

• WIFUSDT formed a bullish reversal pattern after a 24-hour low of $0.913.
• RSI entered oversold territory, suggesting potential short-term buying pressure.
• Volume increased significantly during the overnight session, with a late-day pullback.
• Price remains within the 0.913–0.941 range, with support at 0.926 and resistance at 0.938.
• Bollinger Bands show narrowing volatility before a potential breakout.

The WIFUSDT pair opened at $0.922 on 2025-09-14 at 16:00 ET, hitting a high of $0.946 and a low of $0.913 before closing at $0.917 as of 12:00 ET on 2025-09-15. Total volume over 24 hours was 10,966,144.96, with a turnover of approximately $9,755,603. The pair traded in a defined range, with price action suggesting a consolidation phase.

Structure & Formations

The candlestick pattern observed over the last two hours showed a bearish continuation with a strong rejection at 0.915, forming a potential bearish engulfing pattern. Earlier, the price had shown a bullish engulfing pattern near 0.928, indicating a battle for control in the key 0.926–0.933 range. A doji formed near 0.933, signaling indecision and potential exhaustion of the bullish momentum.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a bullish signal in the short term. However, the daily chart shows the 50-period MA above the 100-period MA, and both are above the 200-period MA, indicating a bearish bias on the longer timeframe. The pair remains below the 50-day MA at 0.934, a key psychological level for potential reversal.

MACD & RSI

The MACD line crossed above the signal line earlier in the session, showing a bullish divergence, but the momentum has since weakened. The RSI hit oversold territory near 30, indicating a possible short-term bounce. However, the RSI remains below 50, showing that the bearish tone is still intact for now.

Bollinger Bands

The Bollinger Bands narrowed significantly after 03:00 ET, signaling a potential increase in volatility. Price broke through the upper band briefly at 0.946 but failed to hold it and retested the lower band at 0.913, forming a potential range-bound setup. The narrowing bands suggest a breakout could be imminent, with 0.938 as the key resistance level.

Volume & Turnover

Volume increased sharply during the overnight session, reaching a peak of 1,065,988.87 at 00:15 ET. This coincided with a rejection at 0.933, indicating strong bearish pressure. Notional turnover spiked during the 00:00–01:30 ET window, showing active trading in a tightening range. A divergence appears between rising volume and declining price, suggesting that the bearish move may be running out of steam.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.913 to 0.946 shows key retracement levels at 0.932 (38.2%) and 0.925 (61.8%). The 0.932 level appears to be a strong resistance, with price testing it multiple times in the past 24 hours. On the daily chart, the 61.8% retracement level at 0.926 aligns with recent support levels and may act as a key pivot.

Backtest Hypothesis

The provided backtesting strategy involves entering long positions on a bullish engulfing pattern and exiting on a bearish engulfing pattern, with stop-loss placed below the last swing low. Based on the observed patterns, a long entry at 0.928 with a stop below 0.915 and a target at 0.938 would be in line with the strategy. This setup was supported by the RSI entering oversold territory and a positive divergence on the MACD, suggesting a high-probability trade. The volume confirmation during the bullish bounce further validates the potential for a short-term reversal. This strategy could be applied to the 15-minute chart with a 1:2 risk-reward ratio.