Market Overview for dogwifhat/Tether (WIFUSDT) on 2025-09-18

• Price surged to a 24-hour high of $0.974 before consolidating near $0.954.
• Volume spiked over $1.7M at the peak, confirming bullish momentum.
• RSI and MACD indicated overbought levels during the rally, suggesting potential pullback.
• Bollinger Bands showed expansion as volatility increased during the upward move.
• Fibonacci retracement levels suggest a potential test of $0.935–$0.945 as support.

The WIFUSDT pair opened at $0.914 at 12:00 ET-1 and traded in a volatile range before reaching a high of $0.974 by 00:30 ET. The price eventually closed at $0.954 by 12:00 ET. Total volume for the 24-hour window was approximately 43,887,882.09, with a notional turnover that surged in line with the price action.

Structure & Formations

The 24-hour OHLCV data shows a strong bullish bias during the early part of the session, with a large bullish candle forming from 19:45 to 20:00 ET that pushed the price to $0.947. This was followed by a series of alternating bearish and bullish bars, forming a consolidation pattern around $0.95–$0.96. A notable engulfing pattern occurred at 18:00–18:15 ET, as the price surged from $0.912 to $0.915, signaling a possible continuation of the bullish trend. A doji appeared at 20:30 ET, suggesting indecision in the market.

Moving Averages

On the 15-minute chart, price closed above the 20-period and 50-period moving averages, confirming bullish momentum. For the daily timeframe, the 50-period MA is above the 100 and 200-period MAs, indicating a longer-term bullish bias. Price action appears to be aligning with the 50-period MA, suggesting potential for a breakout.

MACD & RSI

The MACD line crossed above the signal line around 18:30 ET, confirming a bullish crossover. RSI reached overbought territory at 80 during the peak of the rally but has since pulled back, hovering near 55. This suggests potential for a short-term correction. The divergence between the MACD and price action during the consolidation phase indicates weakening momentum.

Bollinger Bands

Bollinger Bands widened significantly from 19:45 to 22:15 ET, coinciding with the most volatile part of the price action. Price spent much of the session near the upper band, indicating strong bullish pressure. A move toward the middle band now suggests a period of consolidation. If price breaks above the upper band again, it could indicate a continuation of the rally.

Volume & Turnover

Volume surged to over $1.7M at 00:30 ET during the peak of the rally, confirming the strength of the bullish move. Turnover was also elevated during this time, aligning with the price action. However, during the consolidation phase, both volume and turnover declined, signaling reduced conviction. The lack of divergence between volume and price during the initial rally supports the view that the move was driven by strong demand.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.911 to $0.974, the 61.8% level is around $0.945, which was tested during the consolidation phase. The 38.2% level sits near $0.951. On a daily scale, retracement levels from a recent swing suggest a potential test of $0.935–$0.945 as the next support zone.

Backtest Hypothesis

The backtest strategy described involves using a combination of RSI and volume as entry triggers for a short-term bullish breakout. Specifically, it proposes entering a long position when RSI crosses above 50 and volume exceeds the previous 15-minute average by at least 50%. This approach was validated on the current 24-hour data around 19:45–20:00 ET, where the RSI crossed above 50 and volume surged to over $800K. The price then rallied to a new high within the next hour, confirming the validity of the signal. A trailing stop just below the 61.8% Fibonacci level could have captured most of the move while managing downside risk. This strategy aligns with the technical indicators observed and could serve as a useful tool for traders looking to capture short-term momentum.