Market Overview for dogwifhat/Tether (WIFUSDT) – 24-Hour Summary

• Price action on WIFUSDT saw a bearish reversal from 0.979 to 0.908 in 24 hours.
• Key support levels at 0.945 and 0.935 were tested multiple times with mixed strength.
• Volume surged during early morning hours, indicating heightened market activity and potential trend shifts.
• RSI dipped below 30 at 0.908, suggesting oversold conditions.
• Bollinger Bands showed volatility expansion during the bearish phase but have since narrowed.

The dogwifhat/Tether pair (WIFUSDT) opened at 0.959 on 2025-09-18 at 12:00 ET and peaked at 0.979 before closing at 0.908 by 12:00 ET on 2025-09-19. The total volume for the 24-hour period was 42,894,121.81, with a turnover of approximately $37,648,556.61. The price action displayed a clear bearish trend, with multiple attempts to recover failing at key resistance levels.

Structurally, the pair formed several bearish reversal patterns, including a long upper shadow at 0.979 and a shooting star formation. Key support levels identified during the period include 0.945 and 0.935, both of which saw multiple retests and failed attempts to re-establish a bullish bias. On the resistance side, 0.959 and 0.967 acted as psychological ceilings, with price failing to break above these levels. A notable doji appeared around 0.967, indicating indecision among traders at that price level.

Moving averages on the 15-minute chart showed a bearish crossover, with the 20-period MA falling below the 50-period MA. On a daily chart, the 50-day MA has crossed below the 200-day MA, reinforcing the bearish bias. MACD lines showed negative momentum for much of the session, with the histogram expanding during the sharp decline from 0.979 to 0.908. RSI dipped into oversold territory at 0.908, but a recovery may be limited unless there is a significant volume surge to confirm bullish strength.

Bollinger Bands displayed a wide expansion during the sharp drop in price, indicating high volatility. Price settled near the lower band at 0.908, which could signal a potential bounce or continuation of the bear trend. Volume was highest during the early morning hours, especially between 02:00–04:00 ET, when the price fell from 0.969 to 0.944. This volume spike aligned with the price decline, confirming bearish strength. However, a divergence between price and volume during the final leg of the decline (from 0.921 to 0.908) may suggest a potential short-term reversal.

Fibonacci retracement levels from the 0.979 high to the 0.908 low showed the price settling near 61.8% (0.924), suggesting a potential area of consolidation. The 38.2% level at 0.945 saw multiple retests, indicating its importance as a pivot level. Traders may watch whether price holds above 0.935 or breaks below 0.924 for further direction.

Backtest Hypothesis

Given the bearish bias and confirmed Fibonacci levels at 0.935 and 0.924, a potential backtest strategy could involve a short entry at 0.935 with a stop above the 0.945 level and a target near 0.915. This setup would aim to capitalize on continued bearish momentum if the price breaks below the 61.8% retracement level. A trailing stop could be placed below key swing lows formed during the 24-hour period, with exits based on either reaching the target or reversing at the 38.2% level. This approach would align with the observed price action and technical indicators, particularly RSI and MACD, which have shown bearish momentum and oversold conditions.