Market Overview for Wormhole/Tether USDt (WUSDT) – September 10, 2025

• Price surged past 0.0919 and 0.095 levels, capped by resistance at 0.1046.
• Volatility surged with Bollinger Bands expanding, confirming heightened interest.
• MACD and RSI signaled overbought conditions, suggesting potential pullback.
• Volume spiked in the afternoon, with 40.68M turnover at the session high.
• A bullish engulfing pattern formed near 0.095, aligning with Fibonacci support.

Wormhole/Tether USDt (WUSDT) opened at 0.0858 on 12:00 ET - 1 and reached an intraday high of 0.1046 before closing at 0.1031 at 12:00 ET. The total volume over the 24-hour window was 40.68M, with a turnover of ~$4.19M. Price broke through multiple psychological and Fibonacci levels, ending the session well above key technical supports.

Structure & Formations

WUSDT demonstrated a strong bullish bias over the past 24 hours. The price surged past a prior resistance level at 0.095 and capped at 0.1046, with a notable bullish engulfing pattern forming at the 0.095 level. This pattern aligns with a 61.8% Fibonacci retracement level of a recent downward swing from 0.1046 to 0.085, reinforcing its significance. A strong 38.2% retracement at 0.092 acted as a short-term support, which was held briefly before the rally. A key resistance level appears at the 20-period high of 0.1031, suggesting potential consolidation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bullish, with the 20-period above the 50-period, forming a golden cross. The price is trading above both averages, indicating strong near-term momentum. On a daily basis, the 50-day moving average is at 0.093, and the 100- and 200-day averages are lower, suggesting WUSDT is in a mid-term uptrend.

MACD & RSI

The MACD line crossed above the signal line at 0.015, confirming a bullish crossover and expanding into positive territory. However, the RSI has reached 70+, signaling overbought conditions and a possible correction. The RSI divergence with price in the afternoon (as price peaked at 0.1046) suggests caution for short-term traders. Momentum remains strong, but may face exhaustion in the near term.

Bollinger Bands

The Bollinger Bands have widened significantly as WUSDT surged toward its session high. Price has moved well above the upper band for most of the day, indicating high volatility and strong buying pressure. This expansion suggests a period of consolidation or a pullback is likely ahead, as the bands tend to narrow before a breakout or breakdown.

Volume & Turnover

Volume surged during the afternoon session, particularly after the 13:00 ET time frame, where the largest candle (0.1046 high to 0.0951 low) recorded over 40.68M in volume, translating to ~$4.19M in notional turnover. The volume surge confirms the price breakout, but the divergence with RSI suggests traders may be cautious of a short-term reversal. Turnover aligns with price surges, indicating strong conviction in the rally.

Fibonacci Retracements

Key Fibonacci levels from the 0.1046 high to the 0.085 low include 0.092 (38.2%), 0.0885 (50%), and 0.085 (61.8%). The price briefly touched the 38.2% level before rallying, indicating strong buying at 0.092. The 61.8% level at 0.085 has acted as a strong support in the past and appears to be holding on a smaller time frame. The current level of 0.1031 sits above the 61.8% retracement, suggesting a potential extension higher, but caution is warranted as overbought indicators take hold.

Backtest Hypothesis

The backtesting strategy focuses on entries at Fibonacci retracement levels (38.2% and 61.8%) in conjunction with bullish candlestick patterns and RSI divergence. A hypothetical long position could have been triggered at the 0.095 level when the bullish engulfing pattern formed, with a stop loss placed below the 0.092 support. The target would align with the 0.1046 high or an extension of the 61.8% retracement. Given the strong volume and MACD confirmation, this setup shows potential for a high-probability trade in the near term, assuming RSI normalizes and Bollinger Bands begin to contract.