Market Overview for Wormhole/Tether (WUSDT) – 2025-09-17

• Price opened at 0.0873 and rose to 0.0897 before closing near 0.0890.
• Volatility picked up post-19:00 ET, with a 2.3% peak-to-trough range.
• Volume surged past 1.1 million at 02:45 ET, coinciding with a bullish breakout.
• RSI crossed into overbought territory (70+) for the first time in 24 hours.
• Bollinger Bands widened sharply after 22:00 ET, signaling increased market uncertainty.

At 12:00 ET on 2025-09-17, Wormhole/Tether (WUSDT) opened at 0.0873, reached a high of 0.0906, and closed at 0.0890 after hitting a low of 0.0865. The pair traded with a 24-hour volume of 42.9 million, and a notional turnover of approximately $3.8 million.

Structure & Formations

The 15-minute chart displayed a bullish continuation pattern following a strong 19:00 ET breakout above a key resistance level at 0.0892. A bullish engulfing pattern formed at 20:30 ET, confirming the upward shift. A doji at 05:00 ET signaled a potential pullback. Key support levels are at 0.0885 and 0.0872, with the next resistance likely at 0.0905.

Moving Averages

On the 15-minute timeframe, the 20-period MA moved above the 50-period MA, forming a golden cross. The 50-period MA is trending upward, aligning with the overall bullish bias. Daily moving averages (50, 100, 200) show a bearish alignment, suggesting a short-term deviation from the longer-term trend.

MACD & RSI

The MACD line turned positive at 19:45 ET, confirming renewed bullish momentum. RSI reached 72 at 03:00 ET, indicating overbought conditions, though divergence has not yet formed between price and RSI.

Bollinger Bands

Volatility increased after 22:00 ET, with Bollinger Bands expanding from a narrow contraction earlier in the day. Price closed the 24-hour period near the upper band, signaling continued upward pressure, but a retest of the midline may occur in the coming hours.

Volume & Turnover

Volume spiked at 02:45 ET, with 2.38 million WUSDT traded during that candle, the largest in the 24-hour period. Turnover surged to $2.1 million during the same timeframe, confirming the breakout. Price and turnover were aligned at this point, indicating strong buying interest.

Fibonacci Retracements

Applying Fibonacci levels to the 19:00–03:00 ET move (0.0892–0.0906), 0.0902 marks the 61.8% retracement level. On the daily chart, the 0.0885 level corresponds to the 38.2% retracement of the previous bearish leg, suggesting a potential pivot point for near-term traders.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when the 20-period MA crosses above the 50-period MA on the 15-minute chart, with a stop-loss placed below the most recent swing low and a take-profit at the next Fibonacci resistance level. This approach would target the bullish momentum observed during the golden cross and could be optimized for intraday traders seeking to capitalize on short-term trends.