Market Overview: dogwifhat/Tether (WIFUSDT) 24-Hour Price Action and Indicators

• Price dropped from 0.76 to 0.721 over 24 hours amid bearish momentum.
• Volatility spiked mid-session with a 0.75–0.72 range, followed by consolidation.
• RSI approached oversold levels, suggesting potential short-term reversal.
• Volume surged in early trading but faded as price stabilized.

24-Hour Summary

At 12:00 ET on 2025-09-25, the WIFUSDT pair opened at 0.76, with a 24-hour high of 0.76 and low of 0.72. By 12:00 ET on 2025-09-26, the price closed at 0.729. The total 24-hour volume reached approximately 27.8 million WIFUSDT, with a notional turnover of roughly 19.8 million USD.

Structure & Formations

Price action over the last 24 hours shows a bearish bias, with a notable breakdown below the 0.75 psychological level. A key support level appears to be forming around 0.72–0.73, confirmed by two bounces within a 15-minute window. On the 15-minute chart, a long bearish candle formed at 18:30 ET, closing at 0.74 with a wick from 0.745 to 0.74, suggesting rejection at that level. A potential bullish reversal pattern (piercing) emerged at 00:30 ET as the price moved back above 0.736 after a brief dip.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have converged below the current price, indicating bearish momentum. On the daily chart, the 50-day MA is at 0.742, the 100-day MA at 0.754, and the 200-day MA at 0.761. These suggest that the price is currently below its key medium-term averages, supporting a continuation of the downtrend.

MACD & RSI

The MACD line has been below the signal line for the past 24 hours, with negative divergence, indicating weakening bullish momentum. The RSI has oscillated between 20 and 30 in the last 15-minute window, suggesting the pair may be in oversold territory. However, the lack of follow-through above 0.74 suggests buyers are hesitant.

Bollinger Bands

Bollinger Bands show a moderate contraction in the morning before expanding during the late afternoon, suggesting increased volatility. The price has tested the lower band twice, most recently at 0.724 on 09:45 ET, and has since found support in the mid-band range. This indicates that volatility remains a key factor in price direction.

Volume & Turnover

Volume spiked early in the 24-hour window, particularly between 16:00 and 17:30 ET, with a peak of over 2 million WIFUSDT traded in a single 15-minute period. However, volume has since decreased, with the final 6 hours showing a steady but declining trend. Notional turnover mirrored this pattern, with the largest volume occurring at the time of the strongest bearish move. A divergence between price and volume is not yet clear but warrants monitoring.

Fibonacci Retracements

Applying Fibonacci retracements to the most recent 15-minute swing from 0.76 to 0.724, the 38.2% level is at 0.745 and the 61.8% level is at 0.737. The price briefly touched the 61.8% retracement before consolidating, suggesting it may act as a support zone. On the daily chart, the 61.8% retracement of the longer-term move sits at 0.736, aligning with recent price action.

Backtest Hypothesis

The backtesting strategy described involves entering a long position when the price closes above the 20-period moving average and the RSI crosses above 30, with a stop-loss set at the 61.8% Fibonacci level of the most recent bearish swing. The exit is triggered when the RSI exceeds 70 or the price breaks below the 20-period MA. Given the current context of a weak RSI and the price hovering near key Fibonacci levels, this strategy could potentially capture a short-term rebound if the 0.72–0.73 range holds. However, the bearish bias remains intact, so the strategy should be applied cautiously with tight stop-loss orders.