Market Overview: Dogwifhat/Tether (WIFUSDT) on 2025-10-01

• WIFUSDT rose 12.5% in 24 hours, forming a bullish breakout above 0.720.
• Volume surged to $1.4B, with high participation in late ET hours.
• RSI hit overbought levels, while MACD showed strong positive divergence.
• Price tested and retested key support/resistance levels, indicating strong interest.
• Volatility expanded after 8 PM ET, as Bollinger Bands widened and price traded near upper bands.

The dogwifhat/Tether (WIFUSDT) pair opened at 0.694 on 2025-09-30 16:00 ET, reached a high of 0.757, and closed at 0.756 on 2025-10-01 16:00 ET. The price gained 12.5% in 24 hours. Total volume was 20.2 million tokens, and total turnover amounted to approximately $14.2 billion.

Structure & Formations

Price action revealed multiple bullish signals during the session, including a strong bullish engulfing pattern at 0.720 and a hammer at 0.740. A key resistance level was broken at 0.725, followed by a retest at 0.745, which confirmed its validity. The 0.718–0.720 zone acted as strong support, with price bouncing multiple times. A 61.8% Fibonacci retracement level at 0.725 was a critical psychological point that became a turning point after initial rejection.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed positively, signaling bullish momentum. On the daily chart, price closed above the 50- and 100-period SMAs, indicating a longer-term uptrend. The 200-period SMA, at 0.710, acted as a foundational support level that was tested but not broken, suggesting a strong base for further gains.

MACD & RSI

The MACD line surged above the signal line in the latter half of the day, reinforcing bullish momentum. RSI reached 75–80 in the final hours, indicating overbought conditions, although volume confirmed the strength of the move. A potential pullback could be anticipated if RSI fails to sustain above 70 and MACD flattens or turns negative.

Bollinger Bands

Volatility increased significantly after 8 PM ET, as Bollinger Bands widened from a narrow contraction seen earlier in the session. Price remained close to the upper band for most of the final 6 hours, suggesting strong buying pressure. A breakdown below the lower band is unlikely in the near term unless volume declines sharply or a bearish catalyst emerges.

Volume & Turnover

Volume spiked to $1.4B during the late ET hours, coinciding with the push above 0.745. Turnover was positively correlated with price increases, confirming strength. A divergence emerged in the early AM hours, where price pulled back slightly while volume remained high, suggesting accumulation. Price and volume action remain aligned, indicating conviction in the current trend.

Fibonacci Retracements

On the 15-minute chart, the 0.725–0.756 move saw key retracement levels at 0.740 (38.2%) and 0.733 (61.8%). Price briefly pulled back to 0.733 before resuming the rally, indicating strong interest in that area. On the daily chart, the 0.693–0.757 swing saw the 0.725 level as a key 61.8% retracement that was successfully retested and held.

Backtest Hypothesis

A potential strategy could involve entering long positions when the price closes above the 20-period SMA on the 15-minute chart, confirmed by a bullish engulfing pattern and a MACD crossover. Stops could be placed just below key Fibonacci support levels such as 0.733, while targets aim for the next 61.8% level at 0.765 or the 0.780 psychological threshold. This approach, if tested on historical data, would need to account for volatility spikes and volume divergence to avoid false breakouts.