Market Overview: dogwifhat/Tether (WIFUSDT) – Bullish Breakout Amid Rising Volume

• WIFUSDT opened at 0.516 and closed at 0.536, forming a strong bullish bias with a 0.521–0.552 intraday range.
• Momentum accelerated after 08:00 ET, breaking above the 0.53–0.535 consolidation band into overbought RSI territory.
• Volume surged by 60% in the last 6 hours, supporting the rally and showing strong accumulation.
• Bollinger Bands widened, indicating increased volatility, while price remained above the 20-period moving average.
• A potential bearish correction may emerge after a 61.8% Fibonacci retracement at ~0.543.

The 24-hour candle for WIFUSDT opened at 0.516 on October 23, 2025, at 12:00 ET and closed at 0.536 on October 24, 2025, at 12:00 ET. The pair reached an intraday high of 0.552 and a low of 0.515. Total volume over the 24-hour period was approximately 32,368,902.98, while total notional turnover (volume × price) amounted to around 16,650,717.30. The price action suggests a strong bullish sentiment, especially in the final 8 hours of the period.

The price action over the past 24 hours shows a clear bullish bias, with WIFUSDT managing to push through key psychological levels after a period of consolidation. A notable 15-minute Bullish Engulfing pattern was observed around 08:30 ET, confirming a reversal from prior bearish pressure. This was followed by a sustained rally that saw the price close above both the 20- and 50-period moving averages. The 20-period MA is currently at 0.529, while the 50-period sits at 0.526. These lines now appear to act as dynamic support for the short-term trend.

The RSI indicator reached a level of 72 in the final 6 hours, signaling overbought conditions, while MACD crossed above its signal line with positive momentum, reinforcing the bullish bias. Bollinger Bands expanded significantly as volatility increased, with the price remaining above the upper band for the last 4 hours. This suggests a strong short-term rally that may consolidate or retrace in the near term. The 61.8% Fibonacci retracement level from the 0.515–0.552 swing is at ~0.543, which could act as initial resistance.

Looking at the volume profile, there was a clear surge in buying interest after 08:00 ET, with the 15-minute candle at 08:45 ET showing a volume spike of 284,463.72 and a close at 0.539. This suggests accumulation and strong conviction among buyers. The notional turnover over the same period also increased by approximately 60% compared to earlier hours, indicating heightened participation. However, as the price moves into overbought territory, a pullback toward the 50-period MA at 0.526 may occur. Traders should monitor this level closely for potential re-entry or continuation signals.