Market Overview for WOO/Tether (WOOUSDT) on 2025-09-20

• Price declined from 0.0694 to 0.0681 before a sharp late-day rally to 0.0708, forming bullish momentum late in the 24-hour window.
• RSI moved into overbought territory near 70, suggesting possible short-term pullback pressure.
• Volume spiked during the final 3 hours, confirming the upward breakout above 0.07.
• Bollinger Bands tightened earlier in the session before a sharp expansion during the final surge.
• A bullish engulfing pattern formed around 0.0681–0.0690, supporting a possible short-term reversal.

WOO/Tether (WOOUSDT) opened at 0.069 and closed at 0.07 near 12:00 ET, after reaching a high of 0.0708 and a low of 0.0681 over the past 24 hours. The total traded volume was approximately 6.7 million contracts, with notional turnover reaching $464,539. Price action shows a late-day surge that could reflect increased buying pressure and momentum.

Structure & Formations

Key support levels were identified at 0.0681 and 0.0675, both of which were tested and rejected before the final surge. A bullish engulfing pattern formed after the price broke above the 0.0681 level, suggesting a potential reversal from a downtrend to an uptrend. Additionally, a series of higher lows and closing prices above the mid-band of Bollinger Bands indicate strengthening buying momentum. A doji near 0.0684 also suggests indecision before the sharp upward move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both crossed above the price by the end of the session, reinforcing the bullish bias. On the daily chart, the 50-period and 100-period moving averages are aligned, but the 200-period MA has yet to confirm the upward trend. The price closing above both the 20 and 50 MAs could signal continued upward movement in the near term.

MACD & RSI

The MACD line crossed above the signal line around 14:30 ET, confirming the start of a bullish momentum phase. RSI surged to 70 by the end of the day, entering overbought territory, which may indicate a short-term pullback is likely. However, as long as the price remains above key support at 0.069, the RSI may re-enter overbought levels quickly.

Volume & Turnover

Volume spiked significantly during the final three hours of the session, coinciding with the price surge. This confirms strong buying pressure and is a bullish sign for continuation. Notional turnover also surged during this time, indicating increased market participation. The divergence between earlier low-volume bearish moves and the recent high-volume bullish moves suggests a shift in market sentiment.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 0.0681 to 0.0708, the 61.8% level is at approximately 0.0695, which the price briefly tested before closing higher. The 38.2% level is at 0.0693, where the price paused earlier in the session. These levels may act as key support/resistance in the next 24 hours.

Backtest Hypothesis

Given the late-day bullish breakout above 0.0681 and the confirmation by volume and momentum indicators, a potential backtesting strategy could involve a long entry at the close of the candle breaking above 0.0681, with a stop-loss placed just below the 0.0675 level and a take-profit target at the 0.0708 high. A trailing stop could be initiated as the price moves beyond the 61.8% Fibonacci level at 0.0695. This setup aligns with the bullish engulfing pattern and overbought RSI readings, suggesting a high-probability trade if market conditions remain favorable.