Wormhole/Tether USDt Market Overview

• WUSDT declines ~10.7% in 24 hours, forming bearish momentum with multiple lower lows post-0.1046 high.
• RSI dips into oversold territory below 30; volume remains elevated during key breakdowns.
• Bollinger Bands show expansion in volatility, with price trading near lower band.
• A potential support cluster forms at ~0.0900–0.0915 with a 61.8% Fibonacci level aligning closely.
• Downtrend appears intact but could face near-term pause if buyers emerge at key Fibonacci and support levels.

Wormhole/Tether USDt (WUSDT) opened at 0.095 on 2025-09-10 at 12:00 ET and closed at 0.0907 on 2025-09-11 at 12:00 ET, with a high of 0.108 and a low of 0.0896. The 24-hour volume amounted to approximately 77,296,983.3 units, with a notional turnover of around $7,295,991 (based on average price). The bearish bias has remained consistent across key timeframes.

Structure & Formations

The candlestick structure over the last 24 hours shows a distinct bearish continuation with a series of lower highs and lower lows. A bearish engulfing pattern formed around the 0.1031–0.0968 range, followed by a series of weak-bodied bearish candles. A doji near 0.0953 at the end of the first day suggests a temporary pause in the downtrend, but the price failed to reclaim key resistance levels above 0.0965–0.0975.

A critical support zone appears to be forming near 0.0905–0.0915, with several candle closes clustering in this range. A break below 0.0900 would likely trigger further downside to 0.0885–0.0890.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have remained bearishly aligned, with the 20 MA crossing below the 50 MA in a death cross pattern. This reinforces the short-term bearish momentum. On the daily chart, the 50/100/200-period moving averages are in descending order, indicating that the asset remains in a medium-term downtrend.

MACD & RSI

The MACD has remained negative throughout the 24-hour period, with the histogram showing a moderate expansion of bearish momentum during the early hours of 2025-09-11. RSI has dipped below 30 for much of the session, signaling an oversold condition, though without a strong rebound in price—suggesting bearish exhaustion may not be imminent.

The RSI divergence remains neutral, with price and RSI both declining. This implies the bearish trend could continue until a stronger buying interest is observed.

Bollinger Bands

Bollinger Bands have shown a clear expansion in volatility, particularly during the breakdown from 0.095–0.108. The price has spent the majority of the 24-hour period near or below the lower band, especially in the final 12 hours, where it closed at 0.0907—well below the 20-period moving average and near the lower band. This volatility expansion suggests increased market uncertainty or a continuation of a significant trend.

Volume & Turnover

Volume has remained consistently elevated during the key breakdown periods, especially from 17:00 to 19:00 ET on 2025-09-10 and 00:00 to 02:00 ET on 2025-09-11. These periods saw sharp declines of 0.005–0.01 in price, coinciding with volume spikes. Notional turnover increased in tandem, confirming the bearish price action.

Divergences between volume and price movement are not significant at this stage, indicating that the selling pressure remains broad and not concentrated in short-term panic.

Fibonacci Retracements

Applying Fibonacci levels to the key swing high at 0.108 and low at 0.0896, the 38.2% level sits at 0.0964, while the 61.8% level is at 0.0932. The 50% level at 0.0966 has already acted as a resistance.

On the 15-minute chart, the price has repeatedly found resistance at the 0.0940–0.0955 range, aligning with the 50% and 61.8% Fibonacci levels of smaller intraday swings. This suggests a potential area for buyers to test if a short-term rebound occurs.

Backtest Hypothesis

Given the bearish momentum and consistent volume confirmation, a potential backtest strategy could involve a short entry on a breakout below key support at 0.0915–0.0905, with a stop above the 0.0932 Fibonacci level and a target toward 0.0885–0.0890. This strategy would aim to capture a continuation of the downward trend, particularly if RSI fails to show a strong rebound above 40.

The use of 20-period and 50-period moving averages as dynamic support levels can help refine entry timing, while Bollinger Bands can act as a volatility filter—suggesting increased likelihood of trend continuation during expansion phases. Trailing stops could be used to protect gains during pullbacks.