Summary
•
formed a bearish continuation pattern near $0.0315–0.0322.
• Price declined below 20-period and 50-period moving averages.
• RSI shows weakening momentum with potential oversold conditions.
• Bollinger Bands constricted into a narrow range, signaling possible breakouts.
• Volume increased during key breakdowns below $0.0315, supporting bearish bias.
WOO/Tether (WOOUSDT) opened at $0.0326 at 12:00 ET − 1, reached a high of $0.0327 and a low of $0.0303, and closed at $0.0303 as of 12:00 ET today. The total 24-hour volume was approximately 8,929,331 units, with a notional turnover of $275,070.
Structure and Momentum
WOOUSDT formed a bearish continuation pattern within the $0.0315–0.0322 range, with a strong rejection at the upper boundary. The RSI dropped below 30, suggesting potential oversold conditions, though price remains under key moving averages. A bearish bias appears to be consolidating after several 5-minute bearish closes.
Volatility and Band Behavior
Bollinger Bands have constricted into a narrow range during the session, signaling a potential breakout scenario.
The price traded close to the lower band for much of the period, particularly after the breakdown to $0.0303, indicating increased bearish control.
Volume and Turnover Analysis
Volume increased notably during the breakdowns below $0.0315 and $0.0305, which aligns with the downward moves. The notional turnover also rose during those periods, confirming bearish conviction. However, recent volume has moderated, suggesting a possible pause in the move.
Fibonacci and Key Levels
Fibonacci levels suggest that the 61.8% retracement at $0.0307 may act as a short-term support level, while $0.0303 could test the next level of weakness. A close below $0.0303 may signal further bearish potential.
WOOUSDT may consolidate near $0.0303 before deciding its next directional move. Traders should watch for a clear break of key Fibonacci levels or a reversal pattern to confirm continuation or reversal. Position sizing and risk management remain critical as volatility could increase in the next 24 hours.
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