Wormhole/Tether Market Overview

• WUSDT surged 9.3% in 24 hours, closing at 0.0652 near a new high.
• Strong bullish momentum seen with MACD and RSI trending upwards.
• Volume surged over 50M in the last 3 hours, confirming the breakout.
• Price remains above 20-period and 50-period moving averages.
• Bollinger Bands show expanding volatility during the last 30 minutes.

Wormhole/Tether (WUSDT) opened at 0.0553 on 2025-11-06 at 12:00 ET, reached a high of 0.0657, and closed at 0.0652 at 12:00 ET on 2025-11-07. Total 24-hour volume amounted to ~226,412,177.5 units, while turnover reached ~14,813,036.2 USD. The 24-hour candle shows a strong bullish trend, breaking above key resistance levels.

Structures & Formations

The 15-minute chart reveals a bullish continuation pattern with a strong reversal from the 0.056–0.057 support cluster. Notable patterns include a morning star at 19:15 and a bullish engulfing pattern at 08:15, both signaling increasing buyer control. Resistance levels at 0.0575, 0.059, and 0.061 have been decisively breached, while key support levels at 0.056, 0.0547, and 0.0535 appear to be far from current price action.

Moving Averages

On the 15-minute timeframe, price has consistently stayed above both the 20 and 50-period moving averages, reinforcing a strong uptrend. Daily chart averages (50, 100, 200) have not been provided but are likely aligned with the bullish sentiment given the recent strength.

MACD & RSI

The 15-minute MACD has shown positive divergence, with the line and histogram rising in tandem with price. RSI is currently at ~73, signaling overbought conditions but without a reversal, suggesting continued strength. The RSI’s upward slope indicates strong momentum and potential for further gains unless a correction emerges.

Bollinger Bands

Bollinger Bands have recently expanded, indicating increasing volatility. Price is currently near the upper band on the 15-minute chart, which is a sign of strong buying pressure and potential for a short-term pullback or continuation depending on volume dynamics.

Volume & Turnover

Volume has surged dramatically in the last three hours, especially around 15:30 and 16:00, coinciding with key resistance breakouts. Notional turnover has risen in parallel, confirming the validity of the price move. No significant divergence between volume and price action was observed during the 24-hour window.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.0547 to 0.0657, key levels at 61.8% (~0.062) and 78.6% (~0.0654) were touched and then extended past the 100% level. This indicates strong continuation and suggests the next target could be the 161.8% extension.

Backtest Hypothesis

Given the recent strength in RSI and MACD, a backtesting strategy using RSI > 70 as a buy signal appears plausible for WUSDT. However, the initial request for an RSI backtest failed due to the data vendor not recognizing the symbol “WUSDT”. To proceed, the correct trading pair and exchange must be confirmed (e.g., “Wormhole-USDT” on a specific exchange). If that ticker is unavailable, an alternative symbol or data source should be identified. Once a data-supported ticker is provided, the backtest—buy on RSI > 70, hold for three days, 2022-01-01 → today—can be automated for evaluation.