Summary
• Price surged from $0.365 to $0.398 amid strong volume, forming bullish patterns late.
• Overbought RSI and high volatility suggest short-term pullback risks.
• Volume expansion correlates with price breakouts, affirming strength in higher highs.
• Key resistance at $0.398 was tested but not decisively broken.
• Fibonacci retracement levels suggest potential support at $0.382–$0.385 if pullback occurs.
The 24-hour session for dogwifhat/Tether (WIFUSDT) saw an open at $0.365, high at $0.398, low at $0.361, and close at $0.393. Total volume amounted to 14,757,723.92 and turnover was $5,821,049.53, reflecting increased activity during late ET hours.
Structure & Formations
Price action showed a strong bullish trend post-ET, breaking above $0.385 and forming multiple bullish engulfing patterns around $0.382–$0.392.
A key resistance cluster between $0.396 and $0.398 was approached but not decisively held. Notable support levels appear at $0.382–$0.385, aligning with Fibonacci retracement from the prior day’s low.
Moving Averages
The 20-period and 50-period moving averages on the 5-minute chart show a bullish crossover late in the session, suggesting sustained momentum. Daily MAs are not yet updated for the current day but appear to have been crossed in the prior session, indicating possible continuation of a broader uptrend.
Momentum & Volatility
RSI spiked into overbought territory (>70) near $0.398, suggesting short-term exhaustion or potential reversal.
Bollinger Bands expanded significantly during the upward move, reflecting heightened volatility. Price closed just below the upper band, indicating strength but not excessive divergence.
Volume & Turnover
Volume spiked during the late ET rally, especially between $0.39 and $0.398, confirming price action. Turnover aligned closely with volume, indicating healthy participation. No clear divergence between price and volume was observed, suggesting broad consensus in the upward move.
Forward-Looking Outlook
With price near key resistance and overbought indicators, a short-term consolidation or pullback may be expected. Investors should watch for support retests at $0.382–$0.385 and potential follow-through above $0.398. Volatility remains elevated, and a sharp reversal could trigger increased stop-loss activity.
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