Market Overview for WOO/Tether (WOOUSDT) — 2025-11-03

• WOO/Tether closed at 0.0353, down from 0.0386 open, with a 24-hour low of 0.0307 and high of 0.0391
• Bearish momentum intensified on large-volume sell-offs, especially after 15:00 ET with a 0.0352–0.0334 swing
• RSI overbought conditions dissipated; price consolidating near key Fibonacci 61.8% retracement level
• Bollinger Bands widened significantly, reflecting high volatility amid declining price
• Total volume reached 31,607,700, with turnover indicating strong bearish participation

WOO/Tether opened at 0.0386 on 2025-11-02 at 12:00 ET and closed at 0.0353 at the same time the next day. The 24-hour period saw a high of 0.0391 and a low of 0.0307. Total trading volume reached 31,607,700, with a notional turnover of $1,081,796. The price action displayed a strong bearish bias, especially during late morning and afternoon sessions.

On the 15-minute chart, WOOUSDT formed multiple key bearish patterns including a Bearish Engulfing and a Deepening Bearish Channel. The price has been consolidating near the 61.8% Fibonacci retracement level of the recent 0.0307–0.0355 swing. Resistance is forming around 0.0357–0.0362, while support is clustered near 0.0347 and 0.0340. The 20-period and 50-period moving averages have both crossed below the price, reinforcing a downtrend.

The RSI has moved from overbought levels into neutral territory and is now signaling a potential pullback or consolidation phase. MACD is negative with a bearish crossover, supporting the downward momentum. Bollinger Bands are wide, indicating elevated volatility, with price lingering near the lower band — a potential precursor to a rebound or continued decline.

Volume and turnover data showed a sharp spike after 15:00 ET when the price dropped to 0.0334. Turnover during this period exceeded $200,000, suggesting strong bearish participation. The volume–price divergence at the end of the session is notable, with price failing to break lower despite increased volume, hinting at possible near-term support.

Fibonacci retracements from the 0.0307–0.0355 swing show WOOUSDT consolidating near the 61.8% level, with key levels at 0.0347 (38.2%) and 0.0335 (23.6%). A break below 0.0347 could target the 38.2% level, while a retest of 0.0357–0.0362 is likely if a short-term bounce occurs.

Backtest Hypothesis

The recent price action in WOOUSDT aligns well with a sell-on-Bearish Engulfing strategy, particularly as seen on the 15-minute chart during the early part of the 24-hour window. A backtest could be constructed using daily candles and the standard Bearish Engulfing pattern: where the current candle’s body completely engulfs the prior candle’s body and closes lower than the prior open. For resistance, the “next resistance” can be interpreted as the first swing high above the entry price within the last 20 days, or the daily pivot-point R1 level.

Given the volatility seen in the last 24 hours, a resistance-based exit would likely capture the bearish move or allow for a defined risk-reward trade. For a conservative perpetual shorting setup with 1× leverage, a stop-loss near the 20-day high or the upper Bollinger Band could be considered. A more aggressive approach might target the 0.0335 Fibonacci level, with a time limit of 48 hours to prevent holding through unexpected news events.