Market Overview for Dogwifhat/Tether (WIFUSDT) – October 9, 2025

• WIFUSDT traded in a 24-hour range of $0.689–$0.752, closing near mid-range at $0.696.
• Momentum weakened in the latter half with RSI dipping to 34, indicating oversold territory.
• Volatility expanded in early ET hours, with Bollinger Band width reaching a 24-hour peak.
• Turnover spiked above $7.8M during the afternoon ET sell-off, confirming bearish pressure.
• Key support appears at $0.700, tested twice with mixed reactions, while resistance holds near $0.725.

24-Hour Summary and Context

WIFUSDT opened at $0.728 on October 8, 12:00 ET, and closed at $0.696 by October 9, 12:00 ET. The pair reached a high of $0.752 and a low of $0.689 over the period. Total volume amounted to 31,295,043.00 USD, with a notional turnover of $64M, indicating moderate liquidity. The price action reflected a bearish bias from the late evening into the afternoon.

Structure & Formations

The 15-minute chart revealed a broad descending pattern from $0.752 to $0.696, with multiple tests of key levels. A key bearish engulfing pattern formed at $0.724–$0.725, followed by a long-bodied candle closing at $0.713. A potential support cluster emerged between $0.700 and $0.705, with a doji and a small bullish reversal forming at $0.707–$0.708. The price failed to retest $0.735 as a resistance, which had previously held three times.

Support & Resistance

Notable support levels include $0.700, $0.705, and $0.710, with the latter showing early signs of consolidation. Resistance levels are at $0.725, $0.735, and $0.745, with $0.745 having a strong rejection event in the early morning. A breakout above $0.752 could trigger a retest of the $0.75–$0.752 range, where volume was thin during the initial ascent.

Moving Averages

On the 15-minute chart, the 20-period MA is bearish, trending below the 50-period MA since the afternoon. On the daily chart, the 50-period MA is at $0.726, while the 200-period MA remains at $0.738. The price remains below both, indicating a bearish bias in the longer term. A sustained close above $0.735 could bring the 50-period MA into play as dynamic support.

MACD & RSI

The MACD line turned negative in the afternoon, with a bearish crossover confirmed. The histogram showed a sharp contraction, suggesting exhausted bearish momentum. RSI dropped to 34 by the end of the 24-hour window, indicating oversold conditions, but without a clear bullish reversal. A close above $0.715 may bring RSI into neutral territory (~45–55), but further upside would need volume confirmation.

Bollinger Bands

Volatility expanded sharply in the early ET hours, with the upper band reaching $0.752 and the lower band dipping to $0.694. The price spent the majority of the session near the lower band, suggesting a continuation of the bearish trend. A potential retest of the upper band in the next 24 hours could be expected if a short-covering rally materializes.

Volume & Turnover

The largest 15-minute volume spike occurred at $0.724–$0.725, with 1.5 million USD traded and a notional turnover of $1.2M. A second spike of $7.8M occurred during the $0.706–$0.703 sell-off in the afternoon. Price and turnover aligned during the sell-off, confirming bearish pressure. However, a divergence appeared in the late evening when volume dropped despite a small rebound, hinting at weakening bearish conviction.

Fibonacci Retracements

Applying Fibonacci levels to the $0.689–$0.752 swing, the 50% level at $0.720 and the 61.8% level at $0.714 were key for retracement scenarios. The price found support near $0.710, which aligns with the 61.8% level, suggesting a potential pause or reversal. The 38.2% level at $0.725, however, failed to hold during the afternoon, increasing the likelihood of a retest below $0.710.

Backtest Hypothesis

Given the recent bearish momentum and oversold RSI, a backtest strategy could focus on a long bias on a break above $0.715, targeting the 38.2% retracement at $0.725 with a stop loss below $0.705. The strategy could be complemented by using MACD crossover as a confirmation filter, entering only when the MACD line crosses above the signal line. This setup aligns with the observed consolidation and early volume buildup near $0.710–$0.715. While the short-term outlook remains bearish, a reversal from key Fibonacci levels or a breakout with strong volume could offer a high-probability trade entry.