Market Overview: Worldcoin/Tether (WLDUSDT) – Volatile 24-Hour Swing, Diverging Volume

Summary
• WLDUSDT opened at $0.807 and closed at $0.806, with a high of $0.855 and a low of $0.801 over 24 hours.
• Price consolidated between $0.81–0.855 before a sharp decline into the early morning.
• Volume dropped significantly in the last 6 hours, but turnover remained active during key breakouts.

Worldcoin/Tether (WLDUSDT) opened at $0.807 on 2025-11-07 12:00 ET and closed at $0.806 on 2025-11-08 12:00 ET, with a high of $0.855 and a low of $0.801. The 24-hour total volume was ~68.6 million units, and total turnover amounted to ~$56.2 million, showing mixed signs of liquidity and participation.

The 15-minute candles reveal a strong push to $0.855 on 2025-11-07 17:30 ET, followed by a consolidation phase before a sharp sell-off starting at 22:45 ET. The price action suggests a key support level forming around $0.820–0.830, while resistance appears to be $0.845–0.850. A bearish engulfing pattern is visible on the 22:30–23:15 window, confirming a potential short-term reversal in momentum.

Moving Averages show that the 20-period MA (15-min) crossed below the 50-period MA in the morning of 2025-11-08, indicating a weakening trend. On the daily timeframe, the 50-period MA is approaching the 200-period MA from above, which could signal a potential trend reversal or consolidation phase if the crossing is confirmed. The 50-period MA currently sits at $0.835, and the 200-period MA at $0.843.

The MACD histogram turned negative from 22:00 onward, reflecting reduced bullish momentum. The RSI dropped from overbought territory (~65) to neutral (~45) during the sell-off, signaling possible exhaustion in the downward move. Bollinger Bands widened significantly during the peak at $0.855 before narrowing again as volatility receded. Price settled near the lower band in the final 4 hours, suggesting potential support at ~$0.810–0.820. A close below this range could trigger a test of the $0.800 level.

Looking ahead, the next 24 hours may see a test of the $0.815–0.820 support zone with a risk of further consolidation or a breakout to the downside. Traders should monitor the 50-period MA for potential trend confirmation and look for a retest of the $0.835–0.840 range for a possible reversal signal.

Backtest Hypothesis

To build on the observed technical structure and volatility, a backtesting strategy could leverage the key moving average interactions and MACD crossover signals. Given the data provider's inability to fetch the MACD crossover data for WLDUSDT, a manual or local calculation becomes necessary.

Optionally, a MACD-based strategy could be backtested using the raw closing prices from the 15-minute data provided. A Golden-Cross (MACD line crossing above the Signal line) would trigger a long entry, with a 5-day holding period and a stop-loss at the 20-period MA. Alternatively, a manual list of Golden-Cross dates can be provided to simulate the strategy accurately.

If the exact exchange or symbol is known (e.g., “WLDUSDT.P” or “WLD-USDT”), a retry with the correct ticker could resolve the data issue. Otherwise, using the raw close prices, I can compute the MACD locally to proceed with the backtest.