Summary
• Price consolidated between $0.391–$0.401, forming multiple failed rallies above $0.40.
• RSI and MACD indicated weakening momentum and potential oversold conditions by 12:00 ET.
• Bollinger Bands showed moderate volatility, with price near the mid-band at close.
• Volume surged during late ET sell-offs, confirming bearish continuation.
At 12:00 ET–1, dogwifhat/Tether (WIFUSDT) opened at $0.399 and fluctuated within a $0.391–$0.401 range, closing at $0.395 at 12:00 ET. Total volume reached 9.12 million, with notional turnover of $3.56 million across 24 hours.
Structure & Formations
Price action showed a series of bearish harami and shooting star patterns near $0.40, failing to break above key resistance.
A strong support level emerged at $0.391–$0.392, where price consolidated late in the day.
Moving Averages
On the 5-minute chart, price closed below the 20-period and 50-period moving averages, reinforcing short-term bearish bias. Daily MA data would need to be assessed for longer-term direction, but recent 5-minute action suggests continuation of a downtrend.
MACD & RSI
The RSI dropped into oversold territory below 30 in the final 30 minutes of the 24-hour period, suggesting potential for a short-term rebound. MACD remained negative, though flattening, indicating waning bearish momentum.
Bollinger Bands
Volatility was moderate throughout the day, with the Bollinger Bands widening slightly during the late ET sell-off. Price closed near the mid-band, suggesting neutral positioning ahead of the next trend direction.
Volume & Turnover
Volume spiked in the 18:00–04:00 ET window, coinciding with the drop from $0.40 to $0.394. This confirms bearish continuation. Turnover increased in step with price declines, suggesting coordinated selling pressure rather than panic.
Fibonacci Retracements
A key 61.8% Fibonacci retracement level of the morning rally was identified at $0.396, which held during late ET trading before price fell further. The 38.2% retracement at $0.399 offered temporary resistance earlier in the day.
The market appears to be in a short-term bearish consolidation phase, with strong support forming near $0.391. A breakout above $0.399 could signal a potential reversal, though risks remain skewed to the downside. Investors may want to watch for volume confirmation on any rebound attempt.
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