Market Overview for Dogwifhat/Tether (WIFUSDT): 24-Hour Technical Summary

Summary
• Price consolidated between 0.375–0.385, with a bearish reversal at 0.378–0.380.
• Momentum weakened as RSI approached overbought, then pulled back into neutral.
• Volatility remained elevated, with Bollinger Bands expanding following a sharp drop.
• Volume spiked during the early ET sell-off, but notional turnover lagged price movement.
• A bearish engulfing pattern formed near 0.379, suggesting potential for short-term bearish follow-through.

At 12:00 ET–1, dogwifhat/Tether (WIFUSDT) opened at 0.383, peaked at 0.386, and closed at 0.378 by 12:00 ET. Total volume reached 15.8 million units, with a notional turnover of $5.94 million.

Structure & Candlestick Formations

The 24-hour chart showed a defined trading range between 0.375 and 0.385. A key bearish engulfing pattern formed near 0.379 after a short-lived rally. A doji appeared at 0.377, suggesting indecision. The low at 0.371 may mark a short-term support level if the market consolidates.

Moving Averages and Momentum

On the 5-minute chart, price crossed below the 20- and 50-period moving averages, signaling bearish momentum. The RSI peaked near overbought territory (70) but fell back into the 50–60 range by the end of the period, indicating a pullback in buying pressure.

Volatility and Bollinger Bands

Bollinger Bands widened significantly during the sell-off, with price reaching the lower band at 0.371. This expansion suggests increased volatility. A contraction may follow if price stabilizes between 0.375 and 0.380.

Volume and Divergences

Volume surged during the early ET selloff, particularly between 00:00 and 01:30 ET. However, notional turnover did not rise proportionally, suggesting lower conviction in the move. A divergence between volume and price may signal a potential reversal if the downward trend fails to hold.

Key Levels and Fibonacci Retracements

Fibonacci retracement levels from the key 0.386 to 0.371 swing show 38.2% at 0.380 and 61.8% at 0.376. Price tested these levels multiple times and appears to find temporary support at 0.376–0.377.

The price may find near-term direction based on whether the 0.376–0.378 range holds or if a breakout below 0.374 occurs. Traders should monitor RSI for signs of oversold conditions and keep an eye on divergence between volume and price.