Market Overview for WOO/Tether (WOOUSDT) on 2025-10-30

• WOO/Tether declined from 0.0417 to 0.0386 over 24 hours, forming bearish momentum with volume surging past 5M tokens.
• A sharp drop after 19:45 ET broke key support levels and confirmed a bearish engulfing pattern.
• RSI and MACD signaled oversold conditions, but price continued lower, indicating weak conviction.
• Volatility expanded through the day, with Bollinger Bands widening after the midday sell-off.
• Turnover diverged from price near 0.0405, suggesting potential short-term exhaustion on the downside.

WOO/Tether opened at $0.0403 on 2025-10-29 at 12:00 ET and closed at $0.0386 on 2025-10-30 at 12:00 ET, with a 24-hour high of $0.0419 and low of $0.0362. Total volume reached 10.2 million tokens, while turnover amounted to $409,278. The pair has shown bearish momentum throughout the session, with sharp selloffs after 18:30 ET and a bearish engulfing pattern forming around 19:45 ET.

Structure & Formations

WOO/Tether has shown consistent bearish pressure, with price breaking below key support levels at $0.0405 and $0.0400. A significant bearish engulfing pattern formed at $0.0413 during the afternoon, confirming a shift in sentiment. The price has struggled to reclaim any of these levels since the break, suggesting a lack of buying interest. A potential support floor appears to be forming near $0.0385, where price has bounced twice during the session.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both in bearish alignment, with the 50-period line below the 20-period, confirming downward momentum. Daily moving averages also show a bearish bias, with the 50-period and 100-period lines below the 200-period. This suggests that medium-term and long-term trends remain bearish, with little likelihood of a reversal in the near term.

MACD & RSI

The MACD has trended lower throughout the session, with a bearish crossover and a negative histogram that reflects deepening selling pressure. The RSI has dropped below 30, signaling oversold conditions. However, the price continued lower, indicating weak conviction in the oversold signal. This divergence suggests that sellers may still control the market, despite the RSI reading.

Bollinger Bands

Volatility expanded significantly during the session, with Bollinger Bands widening after the 18:30 ET selloff. Price initially sat near the upper band but collapsed to the lower band by the end of the session. The wide band width suggests an increase in market uncertainty and heightened bearish sentiment. If the trend continues, price could remain range-bound between the bands for the next 24 hours unless a breakout occurs.

Volume & Turnover

Volume spiked to over 700,000 tokens at 19:30 ET, coinciding with a sharp sell-off and a bearish engulfing pattern. Turnover also increased during this period, confirming the strength of the move. However, after the drop to $0.0386, volume declined, suggesting that the selloff may be running out of steam. A potential divergence between volume and price near $0.0405 also suggests that the bearish move may be losing momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.0419 to $0.0362, the 61.8% level is at $0.0390, which has acted as a short-term resistance. On the daily chart, the 38.2% retracement level at $0.0405 has been a key psychological level, and its failure to hold suggests that the bearish trend could continue. Traders may watch for a potential bounce from the 61.8% level at $0.0385 in the near term.

Backtest Hypothesis

The bearish engulfing pattern detected on 10/29 at $0.0413 aligns with the broader bearish sentiment observed in today's data. A backtesting strategy using the "candlestick_bearish_engulfing" pattern could involve entering a short position at or near the open of the following candle, with a stop-loss just above the engulfing pattern’s high. Given today's price action and volume confirmation, this pattern would have yielded a favorable risk-reward profile if executed at that time. To refine such a strategy, using WOOUSDT.UDC as the ticker symbol and querying “candlestick_bearish_engulfing” could help automate pattern detection and signal entry points more accurately.