Market Overview for Wormhole/Tether (WUSDT) on 2025-09-18

• Wormhole/Tether (WUSDT) rallied from 0.0923 to 0.1195 during the 24-hour period, showing strong bullish momentum.

• Price action shows key support at 0.0923–0.0941 and resistance at 0.1131–0.1171, with bullish continuation patterns emerging after consolidation.

• RSI surged toward overbought levels, while volume and turnover spiked in the final 6–12 hours, confirming the upward trend.

• Volatility expanded as price pushed beyond Bollinger Bands' upper channel, with 38.2% and 61.8% Fibonacci retracements aligning with recent price pivots.

• The 15-minute chart shows price above the 20- and 50-period moving averages, indicating short-term bullish bias.

Wormhole/Tether (WUSDT) opened at 0.0923 at 12:00 ET on 2025-09-17 and closed at 0.1171 at 12:00 ET on 2025-09-18, reaching a high of 0.1217 and a low of 0.0923. The total 24-hour volume was approximately 233,523,669.09999998 and the notional turnover stood at $21,960,328.74, assuming Tether is valued at $1.00.

The price action over the 24-hour period showed a powerful upward bias, with a 26.3% increase from the low to the high. The most significant move occurred between 06:15 ET and 10:45 ET, during which price surged from 0.1066 to 0.1150. This was supported by a surge in volume and notional turnover, confirming the bullish breakout. A bullish engulfing pattern formed around 06:15 ET, followed by a continuation into a strong rally.

Structure and key levels indicate strong support at 0.0923–0.0941 and resistance at 0.1131–0.1171. The 38.2% and 61.8% Fibonacci retracements from the 0.0923–0.1217 move aligned with the 0.1032 and 0.1105 levels, respectively—both of which served as temporary pivots for continuation rallies. Bollinger Bands expanded significantly in the final 6 hours, confirming the upward breakout. The 20- and 50-period moving averages on the 15-minute chart remained bullish, supporting the trend.

The RSI indicator pushed into overbought territory (above 70) by 10:00 ET, signaling potential exhaustion. However, volume and turnover continued to confirm the trend, especially after 09:30 ET when the price retested 0.1077 and surged again. A doji candle formed at the 0.1113 level, signaling potential consolidation. If this level breaks decisively, the next target could be the 0.1175–0.1217 range. Conversely, a pullback below 0.1066 could trigger a test of the 0.1001–0.0941 support cluster.

Backtest Hypothesis: The suggested strategy involves entering long positions on a bullish engulfing pattern formation followed by a close above the 20-period moving average. A stop-loss is placed below the 38.2% Fibonacci retracement level (0.1032), and a take-profit is set at the 61.8% retracement (0.1105). Given the strong volume confirmation and trend alignment observed, this strategy would have captured most of the 24-hour rally and potentially exited early before overbought RSI conditions.

In the next 24 hours, WUSDT could continue testing the 0.1175–0.1217 resistance cluster if volume remains supportive. However, traders should watch for divergences in RSI and volume, as overbought conditions may trigger a short-term pullback. Investors are advised to remain cautious and use trailing stops to protect gains.