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Summary
• Price formed bearish engulfing patterns near $0.606, with a key support at $0.59.
• Momentum slowed in the final hours, with RSI entering oversold territory.
• Volatility expanded sharply during the 12:00–16:00 ET window, with turnover peaking at $5.8M.
• Bollinger Bands widened as price drifted lower, indicating heightened uncertainty.
• Volume surged to 1.49M during the $0.586–$0.577 decline, suggesting increased bear pressure.
Worldcoin/Tether (WLDUSDT) opened at $0.584, reached a high of $0.608, and fell to a low of $0.566 before closing at $0.57 at 12:00 ET. Total volume amounted to 10.09 million contracts, while notional turnover hit approximately $5.8 million during the session.
Structure & Candlestick Formations
The 24-hour chart displayed a bearish reversal pattern as price peaked at $0.608 and subsequently formed bearish engulfing and hanging man patterns near this level. A strong rejection occurred at the $0.606–$0.608 resistance cluster. Price found support at $0.59 and again at $0.576–$0.577, with the latter forming a potential short-term base.
Moving Averages and Momentum
On the 5-minute chart, the 20-period and 50-period EMAs crossed bearishly after the $0.608 high, confirming downward momentum. On the daily chart, the 50/100/200 SMA alignment remained neutral, with price hovering near the 50-day average. RSI dipped below 30 in the final hours, signaling oversold conditions, while the MACD crossed into negative territory with bearish divergence.
Bollinger Bands and Volatility
Volatility expanded significantly between 12:00 and 16:00 ET, with Bollinger Bands widening to reflect heightened uncertainty. Price moved from the upper band to the lower band, suggesting aggressive bearish participation. The narrowing bands in the final hour hint at a potential consolidation phase ahead.
Volume and Turnover
Volume surged to 1.49 million during the $0.586–$0.577 decline, validating the bearish breakdown. Notional turnover peaked at around $5.8 million during this window. However, volume began to taper in the final hour, suggesting possible exhaustion or indecision in the short term.
Fibonacci Retracements
The 38.2% retracement level at $0.585 acted as a temporary floor before price broke down further. The 61.8% level at $0.574 may offer near-term support. On the 5-minute chart, price found temporary support at the 50% level of the $0.59–$0.605 swing, suggesting possible retests.
Looking ahead, a break below $0.574 could trigger a deeper test of psychological support at $0.55–$0.56, but a rebound to $0.585–$0.595 is possible if short-term buyers step in. Investors should remain cautious, as the market appears to be in a high-volatility phase with mixed signals across indicators.
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