Market Overview for dogwifhat/Tether (WIFUSDT) on 2025-10-07

• Price declined sharply from $0.806 to $0.749, with a 24-hour low of $0.743 and a high of $0.814.
• Oversold RSI levels and expanding volatility suggest potential short-term rebound.
• A bearish divergence in volume confirms the downward momentum.
• Key support levels at $0.775–$0.755 and resistance at $0.785–$0.805 are critical for near-term direction.
• Low-volume consolidation phases precede sharp sell-offs, indicating strong bear sentiment.

The 24-hour period for dogwifhat/Tether (WIFUSDT) began at $0.802 and closed at $0.749 at 12:00 ET. The high of $0.814 and low of $0.743 indicate a broad bearish trend. Total volume reached ~45.2 million WIF, while turnover hit ~$33.2 million, reflecting heightened bearish activity. Price action shows a clear breakdown in key support levels and a sharp selloff in the morning session.

Structure and formations reveal a bearish bias across the day. Price broke below the 0.78–0.785 support cluster and continued lower into the 0.755–0.765 zone, where a series of long lower shadows and bearish engulfing patterns emerged. A doji at 0.756 and a large bearish candle at 0.762–0.756 suggest exhaustion in the short-term decline. Notable resistance remains at 0.775–0.78, where price has bounced in the past.

Moving averages on the 15-minute chart suggest a deepening bearish bias. The 20-period MA crossed below the 50-period MA in the early morning, forming a death cross. On a daily basis, the 50- and 100-day MAs are aligned lower, while the 200-day MA remains above, suggesting a possible longer-term bounce from oversold levels. A retest of the 20-day MA may trigger further selling pressure.

MACD and RSI both signal oversold conditions, with RSI falling below 30 in the afternoon and remaining near 30 at the close. MACD is in negative territory with a bearish crossover, reinforcing bearish momentum. Bollinger Bands have widened in the selloff, with price trading near the lower band most of the session, suggesting a potential rebound toward the mid-band. Volatility appears to be stabilizing as the day closes.

Backtest Hypothesis: The selloff and bearish divergence in volume suggest a strong short-term bear trend. A potential long entry could be considered if price closes above the 0.775 resistance zone with rising volume. A short setup might be triggered below 0.755 with a stop above 0.775. A 15-minute RSI bounce above 50 and a close above the 20-period MA would confirm the reversal. The backtesting strategy could use RSI(14) crossovers and 20-period MA crossovers as primary signals.