Summary
• Price fluctuated between 0.5866 and 0.6130, with key support near 0.5900 and resistance above 0.6040.
• Volume surged during the breakdown below 0.6000, confirming bearish momentum.
• RSI showed oversold conditions in the 30–40 range, suggesting potential for a near-term bounce.
• Bollinger Bands widened, indicating rising volatility, with price hovering near the lower band.
Worldcoin/Tether (WLDUSDT) opened at 0.6066 at 12:00 ET-1, reached a high of 0.6130, and a low of 0.5866, closing at 0.5922 at 12:00 ET. Total volume was 11,794,251.4 and notional turnover was 6,970,056.69.
Structure & Formations
Price action showed a bearish breakdown below key support at 0.6000, with a long-bodied candle confirming the move. A 5-minute bearish engulfing pattern formed at the peak near 0.6130, while a doji at 0.6000 hinted at indecision. The 24-hour session formed a descending broadening pattern, with Fibonacci 61.8% support at 0.5900 appearing resilient.
Moving Averages
On the 5-minute chart, price briefly crossed below the 20 and 50-period MAs, indicating short-term bearish bias. Daily moving averages (50, 100, 200) are not directly visible in the 5-min data, but price action suggests a bearish alignment with longer-term trends.
MACD & RSI
The MACD turned negative during the breakdown below 0.6000, with bearish divergence evident. RSI fell into the 30–40 range, suggesting oversold conditions, which may support a near-term bounce. However, the bearish trend remains intact unless RSI rises above 50 with strong volume.
Bollinger Bands
Bollinger Bands expanded as price volatility increased during the session. Price closed near the lower band at 0.5922, suggesting it may test support at 0.5900 or trigger a rebound toward the mid-band.
Volume & Turnover
Volume spiked during the breakdown below 0.6000, with a 5-minute candle showing over 1 million units traded, reinforcing bearish momentum. Notional turnover followed a similar pattern, aligning with price. A volume contraction near 0.5900 may hint at a short-term pause in the downward move.
Forward Outlook & Risk
Price appears to be consolidating near key support at 0.5900, with a potential bounce into the 0.5950–0.6000 range possible if RSI stabilizes. However, a break below 0.5900 could extend the decline toward 0.5850. Investors should monitor volume during the next 24 hours for signs of a reversal or continuation.
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