Market Overview for dogwifhat/Tether (WIFUSDT) on 2025-11-11

Summary
• Price opened at $0.486 and closed at $0.484 with a high of $0.509 and low of $0.475.
• Total volume traded was 20,175,150 and turnover reached $9,848,286.
• A significant bearish reversal appears at the 23:45 candle on 2025-11-10.

Market Overview

dogwifhat/Tether (WIFUSDT) opened at $0.486 at 12:00 ET − 1 and closed at $0.484 at 12:00 ET on 2025-11-11. The 24-hour range was between $0.509 and $0.475, with total trading volume of 20,175,150 and notional turnover of $9,848,286. The pair appears to be consolidating after a sharp move higher early in the session followed by a pullback and sideways action.

The price action shows a key bearish reversal forming at 23:45 on 2025-11-10, where a strong bearish candle with a large upper shadow capped a short-term rally. This candle appears as a potential Bearish Engulfing pattern, which historically can signal a shift in momentum. Resistance levels are visible at $0.503 and $0.509, while support seems to be holding around $0.481–$0.484. The consolidation phase suggests traders may be awaiting a breakout or reversal catalyst.

The 15-minute chart shows the 20-period and 50-period moving averages are both trending lower, reflecting bearish bias in the short term. The MACD histogram is declining into negative territory, and RSI is hovering below 50, indicating a bearish bias in momentum. However, RSI has not reached oversold levels, leaving room for a potential rebound.

Bollinger Bands show a moderate expansion in volatility around $0.49–$0.51, with price currently sitting near the lower band at $0.484–$0.485. This could indicate potential for a pullback or a bounce. Fibonacci retracement levels from the recent high at $0.509 to the low at $0.475 show key levels at 38.2% ($0.495) and 61.8% ($0.485), which may provide guidance for potential turning points.

Volume & Turnover

Volume increased during key price swings, particularly during the rally from $0.49 to $0.509 and the subsequent pullback below $0.49. Turnover aligned closely with these price moves, suggesting strong conviction in the direction of the trend. A divergence appears during the consolidation phase, as volume has declined while price remains in a tight range. This could indicate a pause in conviction or a buildup for a breakout.

Backtest Hypothesis

A potential backtest strategy for WIFUSDT could involve opening a short at the close of a confirmed Bearish Engulfing candle, such as the one observed at 23:45 on 2025-11-10. A reasonable exit rule could involve closing the trade at the next day’s close, with a 5% stop-loss and 10% take-profit. This approach would test the effectiveness of the Bearish Engulfing pattern as a short-term reversal signal in the context of the current volatility and trend structure.