Market Overview for WOO/Tether (WOOUSDT) on 2025-09-21

• WOO/Tether (WOOUSDT) formed bullish momentum from 06:00–07:00 ET before consolidating near key resistance.
• Price broke above a 15-min bullish engulfing pattern, suggesting potential follow-through.
• RSI hit overbought levels, indicating a possible pause or reversal, while volume remained supportive.
• Bollinger Bands expanded during the 06:00–08:00 ET rally, signaling increased volatility.
• Volume surged during the morning session, confirming strength in the breakout but showing divergences in late afternoon.

WOO/Tether (WOOUSDT) opened at $0.0700 on 2025-09-20 at 12:00 ET and closed at $0.0706 on 2025-09-21 at 12:00 ET, with a high of $0.0738 and low of $0.0698 during the 24-hour period. The total traded volume amounted to 44,580,859.0 units, with a turnover of approximately $3,148,960.40 (based on notional value).

Structure & Formations

The price of WOOUSDT formed a strong bullish engulfing pattern during the 06:15–06:30 ET window as it moved from $0.0728 to $0.0732. This pattern is typically a reversal signal and appears to confirm a short-term bullish bias. A key support level can be identified at $0.0705–0.0708, where the price frequently tested in the late afternoon and evening. A shallow doji formed at 09:45 ET, hinting at indecision before a sharp move lower. Traders should monitor $0.0725 as a psychological level and the high of the 06:15 candle as a resistance to watch.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bullish alignment, with the price trading above both. The 50-period MA is approaching the 0.0725–0.0727 range, which may act as dynamic support if the price corrects. On the daily chart, the 50-period MA is rising but has not yet crossed above the 200-period MA, suggesting that while there is short-term bullish momentum, the broader trend remains mixed.

MACD & RSI

The MACD line showed positive divergence during the morning breakout, with the histogram expanding to signal rising bullish momentum. The RSI surged into overbought territory (>70) during the 06:15–07:15 ET window, suggesting a potential pullback is likely. However, the RSI did not form a strong top, so it could continue higher for a while. A retest of the RSI 50–60 zone may trigger a pause in the bullish trend.

Bollinger Bands

Volatility expanded sharply during the morning session, with the price moving from the lower to upper band between 06:00–07:15 ET. This expansion is typically a sign of increasing conviction in the move. In the afternoon, the bands began to contract again as the price tested and held key support levels. The current price is trading near the midline of the Bollinger Bands, suggesting a potential consolidation phase ahead if no new catalysts emerge.

Volume & Turnover

Volume spiked during the morning rally, with the highest volume recorded between 06:15–07:00 ET as the price surged from $0.0728 to $0.0736. The notional turnover also increased significantly during this window, confirming the strength in the move. However, by the afternoon, volume began to taper off despite the price holding near key support levels. This divergence may suggest a weakening in buying pressure and could be a sign of a potential reversal or consolidation.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute move from $0.0698 to $0.0738, the 38.2% and 61.8% retracement levels are at $0.0716 and $0.0725, respectively. The price found support at the 0.0715–0.0716 level in the afternoon, aligning with the 38.2% retracement. If it continues to consolidate, a test of the 61.8% retracement at $0.0725 is likely next. These levels may provide directional clues for near-term price action.

Backtest Hypothesis

The given backtesting strategy involves a breakout pattern-based entry triggered by a bullish engulfing candle on the 15-minute chart, confirmed by a close above the previous candle's high. Stops are placed below the engulfing candle’s low, and targets are set at the 38.2% and 61.8% Fibonacci retracements. Given the recent price action and pattern confirmation, the setup aligns with this strategy, particularly during the 06:15–06:30 ET window. If applied to the recent WOOUSDT swing, the strategy would have entered long with a target at $0.0725 and a stop below $0.0720, offering a favorable risk-reward profile.