Market Overview for WOO/Tether (WOOUSDT) — 2025-10-03

• WOOUSDT opened at $0.0699 and closed at $0.0705, trading between $0.0698 and $0.0765.
• A strong bullish surge was seen between 19:00–20:00 ET, followed by consolidation and a pullback.
• Volume spiked during the rally, with a total 24-hour volume of 34.15 million.
• RSI and MACD suggested overbought conditions during the high, now returning to neutral.
• Price appears to be consolidating near a key support level around $0.0703–0.0706.

WOO/Tether (WOOUSDT) opened at $0.0699 on 2025-10-02 at 12:00 ET and closed at $0.0705 on 2025-10-03 at 12:00 ET, after reaching a high of $0.0765 and falling to a low of $0.0698. The 24-hour trading volume amounted to approximately 34.15 million units, with a notional turnover of around $2.48 million, reflecting significant liquidity during the rally.

The price formed several key patterns, including a bullish engulfing candle around 19:00 ET and a doji at 21:45 ET, signaling indecision and consolidation. A strong support zone emerged at $0.0703–0.0706, where the price found buyers after a sharp pullback. Resistance levels are apparent at $0.0716 (a prior peak) and $0.0725, where the market has struggled to hold in the past. The 20-period moving average on the 15-minute chart is currently at $0.0711, above the current price, indicating a possible short-term bearish bias.

The 50-period moving average (15-minute) is at $0.0709, suggesting the price is in a consolidation phase. On a daily chart, the 50-period MA sits at $0.0715, slightly above the 200-period MA of $0.0710, hinting at a sideways bias. The 200-period MA crossing from below could signal a possible longer-term bullish setup if the price holds above $0.0705. The RSI has corrected from overbought territory (peaking at 70), now at 58, suggesting momentum is slowing. The MACD is trending downward, with the histogram showing decreasing bullish momentum. The price is currently trading slightly below the upper Bollinger Band, indicating a period of volatility expansion after a prior contraction, typical of a breakout or consolidation phase.

Volume distribution shows a sharp increase during the rally between 19:00–20:00 ET, peaking at 1.44 million units during the 19:15 candle, followed by a drop-off as the price pulled back. This suggests strong short-term buying pressure, but also a lack of follow-through, leading to a retest of key support. Turnover and volume remain correlated, with no significant divergence observed, which adds credibility to the consolidation narrative. Fibonacci levels from the key swing high of $0.0765 and low of $0.0698 indicate key retracement levels at $0.0735 (61.8%) and $0.0718 (38.2%), with the current price hovering near $0.0705, suggesting a potential bounce or continuation lower.

Backtest Hypothesis
The described strategy involves identifying bullish engulfing patterns near key Fibonacci retracement levels and entering long positions on a break above the high of the engulfing candle, with a stop below the low. This aligns with today’s 19:00 ET engulfing candle, which formed at $0.0758–$0.0766, near the 38.2% retracement level of $0.0718. A backtest would assess whether entering long on a break above $0.0766 with a stop at $0.0746 would have resulted in a favorable risk-reward ratio given the subsequent pullback. The strategy’s success would depend on the strength of the engulfing pattern and volume confirmation, both of which were present today.