Market Overview for Wormhole/Tether (WUSDT)

• WUSDT rallied 8.7% from 0.094 to 0.1005 in 24 hours, showing strong bullish momentum.
• A breakout above 0.1026 suggests potential continuation toward 0.1039 with clear RSI and MACD confirmation.
• High volatility and expanding Bollinger Bands indicate increased market activity and potential for further swings.
• Volume and turnover remained in sync, reinforcing price action and reducing divergence concerns.
• Key Fibonacci retracement levels at 0.0998 (38.2%) and 0.098 (61.8%) may act as near-term support.

Wormhole/Tether (WUSDT) opened at 0.094 on 2025-09-17 at 12:00 ET and closed at 0.1005 at the same time on 2025-09-18. The price reached a high of 0.1039 and a low of 0.0921, with total volume of 115,485,269.5 and a notional turnover of approximately 11,554,852.69 USD over the past 24 hours.

Structure & Formations

The 24-hour chart for WUSDT exhibited a strong bullish trend, supported by a consistent series of higher highs and higher lows. A clear breakout above the 0.1026 resistance level occurred, supported by a bullish continuation pattern. A key support level at 0.099 was tested twice, and each time the price found buying interest. Notable candlestick patterns included a strong bullish engulfing pattern at 0.1001 and a bearish harami near 0.0985, suggesting possible countertrend activity if the bullish momentum stalls.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward, confirming the short-term bullish bias. The 20SMA (0.0999) crossed above the 50SMA (0.0996), signaling a potential golden cross. On the daily chart, the 50D (0.0965), 100D (0.0943), and 200D (0.0910) averages remained in ascending order, supporting the longer-term bullish setup.

MACD & RSI

The MACD line crossed above the signal line mid-day, confirming the bullish momentum. The histogram showed increasing positive divergence as the rally progressed. RSI, which had been in overbought territory (above 70) at the peak, has since receded toward neutral levels (around 55), suggesting the rally may not be overextended but is in a consolidation phase. The indicator shows no signs of a bearish divergence at this stage.

Bollinger Bands

Bollinger Bands expanded significantly following the breakout, with the price frequently trading near the upper band. This expansion indicates rising volatility. The 20-period bands currently span from 0.0980 to 0.1035, with WUSDT closing near the upper band. The volatility is expected to remain high if the trend persists.

Volume & Turnover

Volume surged during the breakout phase, with the highest 15-minute candle (23:15 ET) recording a volume of 8,029,183.3. Notional turnover spiked in tandem, confirming the price action. No divergence was observed between price and volume during the rally. The most recent volume bar at 04:30 ET showed a slight decline, which may indicate a pause in aggressive buying, but overall, volume remained robust.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.0921–0.1039 swing, the 38.2% level at 0.0998 and 61.8% at 0.098 were key. The price held above 0.0998 in the final hours, suggesting strong support. A further retest of 0.098 may provide an opportunity for another bullish move, provided buying pressure remains intact.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a bullish breakout above the 0.0998 Fibonacci level, with a stop-loss placed below 0.098 and a target set at 0.1026. The RSI and MACD crossover at 0.1001 could serve as confirmation signals for entry, minimizing false breakouts. Given the current structure and volume confirmation, this setup appears to align with the observed price behavior over the past 24 hours and could be tested for consistency in similar market conditions.