Market Overview for Worldcoin/Tether (WLDUSDT) on 2025-09-28

• Price declined to 1.249 from a high of 1.293, forming bearish patterns near key levels.
• RSI and MACD suggest weakening momentum with no immediate overbought conditions.
• Volatility expanded in the early session before stabilizing toward midday.
• Turnover surged during the sharp 1.293 high but softened as price declined.
• Bollinger Bands show contraction mid-day, hinting at potential consolidation.

Opening and Price Action

Worldcoin/Tether (WLDUSDT) opened at 1.280 on 2025-09-27 at 16:00 ET and reached a 24-hour high of 1.293 before closing at 1.249 as of 12:00 ET on 2025-09-28. The total 24-hour volume was 27,292,787.2 units, with a notional turnover of approximately $34,133,731 (calculated using WLDUSDT price action).

Structure & Formations

The price action shows a sharp bearish reversal from the 1.293 high, with a key support level forming near 1.246–1.249. A bearish engulfing pattern was observed during the sharp decline into the 1.241–1.245 range. A doji near 1.249 suggests potential consolidation, while resistance appears to have formed at 1.256 and 1.263.

Moving Averages and Momentum

On the 15-minute chart, the 20 and 50-period moving averages have converged slightly below the current price, confirming bearish momentum. The 50-period moving average is now a critical short-term resistance. For the daily chart, the 200-period moving average sits at ~1.265, forming a key psychological resistance. The MACD has turned negative and is trending lower, signaling continued bearish pressure. RSI is at ~40, indicating neutral momentum with no immediate overbought or oversold conditions.

Bollinger Bands and Volatility

Volatility expanded sharply during the initial decline from 1.293 to 1.245, with the price touching the lower Bollinger Band several times. This suggests high bearish conviction and potential for further consolidation. A contraction in Bollinger Bands is observed from 1.246 to 1.249, indicating a potential pause in directional movement.

Volume and Turnover Analysis

Volume spiked during the high of 1.293 and again during the sharp drop into the 1.241–1.245 range. However, the price failed to confirm these moves with sustained follow-through, suggesting potential bearish exhaustion. A divergence between price and volume is observed in the 1.255–1.263 range, with price moving lower despite declining volume.

Fibonacci Retracements

The recent bearish move from 1.293 to 1.245 aligns with Fibonacci levels at 1.270 (38.2%) and 1.257 (61.8%). The 61.8% level is now acting as a key support zone and may determine the next leg of price action. A break below 1.245 could test the 1.239 low next.

Backtest Hypothesis

A potential backtest strategy could involve entering short positions on a break below the 1.249 consolidation level, with a stop-loss above the 1.255–1.257 resistance zone. The target would aim for the 61.8% Fibonacci level at 1.257, with a longer-term goal at 1.245 and potentially 1.239 if bearish momentum persists. This aligns with the bearish engulfing pattern and RSI neutrality, suggesting that a breakout from current consolidation could confirm a continuation of the downward trend.