Market Overview for dogwifhat/Tether (WIFUSDT) on 2025-10-31

• Price declined from 0.492 to 0.477 before rebounding to close near 0.495
• Strong bearish momentum early, followed by bullish recovery in overnight hours
• Volume spiked during bearish phase but remained elevated during rally
• RSI showed oversold levels, indicating possible short-term reversal
• Bollinger Bands expanded, reflecting rising volatility during the day

Opening at 0.491 on 2025-10-30 at 12:00 ET, the WIFUSDT pair reached a high of 0.508 and a low of 0.477 before closing at 0.507 by 12:00 ET on 2025-10-31. Total volume amounted to 27,532,445.89 units, with notional turnover of $13,920,000. The price action reflects a volatile 24-hour session marked by a significant bearish collapse and a recovery phase in the overnight hours.

Structure & Formations

The price action exhibited a bearish breakdown from a key resistance level (~0.492) and a subsequent bullish rebound forming a potential bullish engulfing pattern near 0.477. A morning doji occurred at 0.475, signaling indecision before the price rallied. The 0.480-0.485 range acted as dynamic support during the consolidation phase, suggesting that this area may be watched for potential rebounds or breakdowns.

Moving Averages

On the 15-minute chart, the price remained above the 20-period moving average for much of the session, with the 50-period line tracking slightly lower. On the daily timeframe, the 50-period MA crossed above the 200-period line, indicating a potential bullish crossover. However, the 100-period MA is still positioned between these lines, suggesting mixed signals in the near-term trend.

MACD & RSI

The MACD showed bearish divergence early in the session before flipping into a bullish crossover during the overnight recovery. This suggests a possible reversal in momentum. The RSI touched oversold territory (~25) around 0.477, confirming the depth of the bearish move and hinting at potential support retests. The RSI then moved into overbought territory (~65), signaling caution in short-term bullish continuation.

Bollinger Bands

The bands expanded significantly during the day, reflecting heightened volatility. The price remained outside the upper band during the final push to 0.508, indicating strong momentum at the peak. The lower band acted as a support zone during the bearish phase, with the price bouncing from 0.477. This suggests a possible range-bound consolidation in the near future.

Volume & Turnover

Volume was highest during the bearish breakdown phase, particularly between 17:00 and 19:00 ET, with a total of ~2.5 million units traded in that 2-hour window. The rebound in price was supported by a steady but lower volume flow, indicating a shift in buying interest without massive accumulation. The notional turnover increased during the rally, confirming the bullish sentiment despite lower unit volume.

Fibonacci Retracements

Key Fibonacci levels from the 0.477 to 0.508 swing include 0.486 (38.2%) and 0.492 (61.8%). The price briefly tested the 0.486 level during consolidation and bounced from the 0.492 level on the way to its high. The 0.480–0.485 area aligns closely with the 50% retracement level, suggesting it could act as a pivotal zone for near-term direction.

Backtest Hypothesis

Given the observed price behavior, a potential backtest could focus on capturing reversals using the Morning Star pattern. The price movement suggests that such a pattern may have formed around the doji at 0.475, with a strong bullish follow-through the next session. A backtest would aim to validate how frequently and profitably this pattern holds on WIFUSDT, using confirmed pattern formations and RSI divergence as filters. Confirming the accuracy of the symbol and the historical data will be essential for reliable results.