Summary
• Price action shows a choppy 24-hour range between 0.0284 and 0.0295.
• Momentum shifts suggest weakening bulls and fading bears in late ET hours.
• Volatility spikes around 19:15–19:45 ET with a 1.8% price drop and increased turnover.
• A bearish engulfing pattern appears near the daily high, hinting at short-term bearish pressure.
• Volume confirms the morning rally but diverges on the afternoon drop, suggesting distribution.
The WOO/Tether pair (WOOUSDT) opened at 0.0294 (12:00 ET – 1), reached a high of 0.0295, a low of 0.0284, and closed at 0.0288 at 12:00 ET. Total volume over the 24-hour window was approximately 10.6 million
tokens, with a notional turnover of around $314,000.
Structure & Formations
Price action for
formed a tight range-bound pattern between 0.0284 and 0.0295, with multiple failed attempts to break above 0.0293. A bearish engulfing pattern emerged near 19:15 ET as price fell from 0.0289 to 0.0285. Key support levels appeared at 0.0285 and 0.0282, with resistance forming around 0.0290 and 0.0293. A potential 61.8% Fibonacci retracement level lies at 0.0290, which may test buyers’ conviction.
Momentum and Indicators
Momentum, as measured by the MACD and RSI, suggests a period of indecision. The RSI oscillated between 35 and 60, avoiding overbought or oversold territory, but showed a bearish divergence in the late ET hours when price fell while RSI failed to confirm the move. The MACD histogram showed mixed signals, with bulls briefly taking control in the early morning hours before bears retook dominance by late ET.
Volatility and Bollinger Bands
Volatility expanded significantly between 19:15 and 19:45 ET, coinciding with the sharp 1.8% drop. Price moved outside the lower Bollinger Band during this time, indicating short-term bearish exhaustion. Conversely, during the morning recovery, price tested the upper band, suggesting a temporary overextension by buyers.
Volume and Turnover Divergences
Volume confirmed the morning rebound but diverged during the afternoon sell-off, where price declined while volume increased only modestly. This divergence points to potential profit-taking or distribution. The largest single-candle volume spike occurred at 19:15 ET with 1.47 million WOO traded, coinciding with a significant price drop.
The pair may test support at 0.0285 in the coming 24 hours, with a potential rebound or further decline depending on buying interest. Traders should remain cautious around the 0.0290 resistance level and watch for any divergence in momentum indicators.
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