Wormhole/Tether (WUSDT) Market Overview

• WUSDT formed a bullish reversal pattern near 0.0852–0.0863, signaling potential support.
• Price surged above 0.0875 by 21:00 ET, reaching a 24-hour high of 0.0884 with increased volume.
• Volatility peaked in the late evening hours before consolidating near 0.0873–0.0878.
• RSI showed overbought conditions in the 70+ range, suggesting a possible pullback.
• Turnover reached a daily high of $1.5M, confirming the strength of the bullish breakout.

Wormhole/Tether (WUSDT) opened at 0.0865 on 2025-09-15 12:00 ET and closed at 0.0864 on 2025-09-16 12:00 ET, with a high of 0.0884 and a low of 0.0852. The pair recorded a 24-hour volume of ~31.5 million units and a notional turnover of ~$2.74 million.

Structure & Formations

The 24-hour OHLCV data revealed a key support zone forming around 0.0852–0.0863, with a bullish reversal pattern (hanging man followed by a strong bullish candle) at the lower end. This was confirmed by a large-volume candle pushing price above 0.0875. Notably, a bullish engulfing pattern emerged around 0.0864–0.0870, indicating a potential short-term reversal after a bearish correction. A doji formed near 0.0874, signaling indecision and possible exhaustion of the bullish move. A key resistance level appears to be forming at 0.0884–0.0885, where the pair briefly stalled after a sharp move up.

Moving Averages

On the 15-minute chart, the 20SMA crossed above the 50SMA in a bullish "golden cross" formation, reinforcing the upward trend. The 50/100/200 MA on the daily chart remain in a bullish alignment, suggesting continued support for higher prices. The current price is above all three daily MAs, indicating strong momentum and a potential continuation of the uptrend.

MACD & RSI

The MACD line showed a strong positive divergence in the late evening hours, confirming the recent bullish breakout. The histogram expanded, indicating increasing momentum. The RSI reached overbought territory (70–75), suggesting a potential short-term pullback or consolidation. However, as long as RSI remains above 50, the bullish bias is likely to persist. A bearish crossover on the MACD could signal a pause, but the overall momentum remains favorable for buyers.

Bollinger Bands

Bollinger Bands showed a contraction during midday, followed by a sharp expansion as price broke above the upper band, indicating a period of heightened volatility. Price has since settled just below the upper band, suggesting continued bullish pressure but with a potential for a retest of the midline (0.0876–0.0877) as a key pivot. A break below the midline could signal a consolidation phase.

Volume & Turnover

Volume spiked during the late afternoon and evening hours as price surged above 0.0875–0.0884, with the largest single candle recording a volume of 1.59 million units and a turnover of ~$142,000. Turnover reached a 24-hour high of ~$1.5M in the 19:00–20:45 ET window, confirming the strength of the bullish move. A divergence in volume and price action is not observed, suggesting that the rally is backed by liquidity and institutional activity.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 0.0852 to 0.0884, key levels are at 0.0870 (38.2%), 0.0876 (50%), and 0.0880 (61.8%). Price has found resistance at 0.0884 and is now consolidating near 0.0876–0.0878, aligning with the 50% retracement level. A break above 0.0880 could lead to a test of 0.0887, the next Fibonacci extension level. On the daily chart, the 38.2% and 50% levels coincide with the 20SMA and 50SMA, making them critical for the next 24–48 hours.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a bullish engulfing pattern at the support zone of 0.0852–0.0863, with a stop loss below 0.0850 and a take profit at 0.0875–0.0880. The strategy would aim to capture the continuation of the upward trend supported by the 20SMA and the recent bullish MACD crossover. A 1:2 risk-to-reward ratio would be used, and the position would be closed if RSI drops below 50 or if the price breaks below the 50SMA. This approach leverages the observed pattern and momentum indicators for a data-driven, low-latency trading signal in a high-volume environment.