Market Overview for dogwifhat/Tether (WIFUSDT) on 2025-10-06

• Price declined from 0.805 to 0.775, followed by a 9.7% rebound into session close.
• Strong volume spikes confirmed a bullish reversal after the 0.762 support.
• RSI entered oversold territory and recovered, suggesting potential short-term buying interest.
• Bollinger Bands showed a contraction during the early session before a sharp expansion.
• MACD flipped to positive, aligning with the rebound and suggesting rising momentum.

At 12:00 ET–1, WIFUSDT opened at 0.786 and traded between 0.772 and 0.806 before closing at 0.804. Total volume reached 13,450,932.35 with a notional turnover of $10,739,942. The pair exhibited a sharp reversal off key support levels, with a strong volume spike at the 0.762 level.

Structure & Formations

The session featured a bearish breakdown to 0.762, followed by a bullish reversal into the closing hours. A strong bullish engulfing pattern formed at the 0.762–0.764 level, confirming the support. A doji at 0.765–0.764 signaled indecision during the reversal phase. Resistance is forming near 0.792 and 0.804, with the latter acting as a new pivot.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed into bullish alignment in the final hours. Daily moving averages (50/100/200) remain bearish, with the 50DMA at 0.782 acting as a near-term pivot. The price is trading above the 20SMA and 50SMA, reinforcing the short-term bullish tilt.

MACD & RSI

MACD turned positive in the last 3 hours, confirming the bullish reversal. RSI reached an oversold level of 30 before rebounding to 55. This suggests potential for further upward movement, but momentum remains unconfirmed unless RSI closes above 60.

Bollinger Bands

Bollinger Bands constricted significantly between 0.761 and 0.765 before widening sharply with the rebound. Price closed near the upper band at 0.804, indicating a volatile expansion. A continuation above 0.806 may trigger a breakout trade.

Volume & Turnover

Volume surged at the 0.762 support and again at 0.794–0.804, confirming the reversal and breakout. Notional turnover increased by 23% in the last 6 hours. Divergence is visible in the early session, where volume declined despite price consolidation, suggesting a possible reversal setup.

Fibonacci Retracements

Key Fibonacci levels from the 0.772 to 0.806 swing include 0.786 (38.2%), 0.792 (50%), and 0.798 (61.8%). The 50% and 61.8% levels have shown strong resistance, with the 61.8% level recently broken. A retest of 0.792–0.794 may trigger renewed buying interest.

Backtest Hypothesis

A potential backtest could involve entering long positions on a bullish engulfing pattern at key Fibonacci and support levels, with a stop-loss placed below the 0.762 support. A target of 0.812 aligns with the 161.8% Fibonacci extension and recent volatility. This setup could be tested on historical 15-minute data from the past 30 days, focusing on volume confirmation and RSI divergence.