Market Overview for dogwifhat/Tether (WIFUSDT)

• Price opened at $0.511 and climbed to a 24-hour high of $0.535 before consolidating.
• Volume surged over 729,999 units during a key bullish breakout in early morning ET.
• RSI and MACD showed strong momentum early, but signs of exhaustion emerged by midday.
• Price tested prior support levels multiple times, showing bearish resilience near $0.514.
• Total volume and turnover confirmed late-day buying pressure as price closed near $0.533.

WIFUSDT opened at $0.511 on 2025-10-18 12:00 ET, reached a high of $0.535, and closed at $0.533 by 2025-10-19 12:00 ET. The 24-hour trading session saw total volume of 17,822,922.27 and a notional turnover of approximately $9,195,069. The asset experienced a clear intraday reversal from bearish to bullish sentiment following a strong volume-driven rally in early morning ET.

Structure & Formations

The candlestick structure revealed a strong bullish impulse starting from around 10:30 ET, where a large bullish engulfing pattern confirmed a key breakout above $0.528. This was followed by a sequence of higher highs and higher lows, signaling short-term strength. A doji candle formed at the peak of the rally, hinting at indecision among buyers. Key support was tested at $0.514 and $0.517, both of which held during consolidation phases, indicating strong bearish interest at those levels.

Moving Averages

On the 15-minute chart, price spent much of the session above both the 20SMA and 50SMA, reinforcing the bullish bias. The 50SMA acted as a dynamic support, especially around the early morning consolidation phase. On the daily chart, the 50DMA and 100DMA are closely aligned around $0.519–$0.522, while the 200DMA remains a critical long-term support zone. Price closed well above all three, signaling continuation potential.

MACD & RSI

The MACD histogram showed a robust expansion during the early morning breakout, reaching a peak of around 0.0046 before gradually decaying. This suggests strong initial buying pressure but also signs of exhaustion as the session progressed. The RSI reached 62–65 during the rally, indicating moderate overbought conditions, and has since consolidated around 54–57, suggesting balanced momentum between buyers and sellers.

Bollinger Bands

Volatility expanded during the breakout phase, pushing price above the upper band for multiple consecutive 15-minute periods. By the midday consolidation, bands began to contract, indicating a possible slowdown in momentum. Price remains within the upper third of the bands, suggesting continued bullish bias but with caution warranted as the bands may tighten further into a potential trading range.

Volume & Turnover

Volume spiked to over 729,999 units during the key 10:30–10:45 ET rally, confirming the strength of the breakout. Turnover also surged during this time, reaching $387,280 in the same period. Notably, volume and turnover remained elevated through the morning but declined steadily in the afternoon as price consolidated. A divergence began to form between price and volume by late afternoon, indicating weakening bullish conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the key 0.511–0.535 swing, the 61.8% level at $0.525 and the 78.6% level at $0.532 were both tested with moderate resistance. A bearish pullback in the late morning found support at the 38.2% level of $0.522, which held as price bounced back toward midday. These levels will likely remain important in the near term as buyers and sellers test the edges of the current consolidation.

Backtest Hypothesis

Given the presence of a strong bullish engulfing pattern and the subsequent price action, a potential backtest could focus on identifying similar patterns on the WIFUSDT pair using more refined technical-indicator terminology, such as “ENGULFING_BULLISH.” The strategy would involve entering long on confirmation of the pattern, using the 20SMA as a stop-loss reference and targeting a 38.2–61.8% Fibonacci retracement as a profit-taking level. For historical testing, adjusting the query to use the 2023–2025 timeframe and exact pattern names could yield more accurate results. This approach aligns with the observed behavior, where a strong volume surge and breakout confirmed the pattern’s reliability in the short term.