Market Overview for Wormhole/Tether (WUSDT): 2025-10-09 24-Hour Analysis

• WUSDT formed a bullish divergence after breaking below 0.1180 with a closing low of 0.1087.
• Volatility expanded significantly during the early ET hours, with a 15-minute high of 0.1214 followed by a sharp selloff.
• Price appears to consolidate near 0.1090–0.1100, a recent key support cluster, with RSI indicating oversold conditions.
• Bollinger Bands show a contraction toward the end of the period, suggesting a potential reversal or breakout ahead.
• Turnover spiked during the late night to early morning hours, aligning with key support testing and bearish exhaustion.

Wormhole/Tether (WUSDT) opened at 0.1157 on 2025-10-08 at 12:00 ET, reaching a high of 0.1214 and a low of 0.1087 before closing at 0.1094 by 12:00 ET on 2025-10-09. The total notional turnover over the 24-hour period was approximately $39,890,052 (based on total volume of 349,814,620 and average price of ~0.1169). The asset demonstrated a strong bearish bias during early ET hours, followed by a consolidation phase in the morning.

Structure & Formations

Price action showed a distinct bearish breakdown from a 0.1190–0.1200 resistance zone after a failed test during the early morning ET. A large bearish candle on 2025-10-08 at 18:30 ET (0.1209 → 0.1197) confirmed weakening momentum. A key support level at 0.1100–0.1110 was tested multiple times, with price bouncing slightly off 0.1087 after a sharp selloff. The 0.1090–0.1100 range has emerged as a potential short-term floor. A small bullish engulfing pattern appears to be forming around the 0.1094–0.1098 range in the past few hours, suggesting possible stabilization.

Moving Averages and Momentum Indicators

Short-term moving averages (20- and 50-period on 15-minute chart) crossed bearishly during the early part of the session, reinforcing the downward move. The 50-period SMA remains below the 20-period SMA, indicating bearish momentum. MACD shows a bearish divergence between price and histogram at the beginning of the session but has flattened recently. RSI has dipped below 30, indicating oversold conditions, particularly after the 0.1090–0.1094 consolidation. This could hint at a possible short-term bounce if volume increases in line with reversal signals.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly during the sharp selloff from 0.1214 to 0.1087, with price often trading near the lower band. A contraction is visible in the last few hours as price hovers close to the 0.1090 level, suggesting a potential reversal or breakout. The narrowing bands signal reduced volatility, which may precede a directional move, either up or down, depending on volume and order flow.

Volume and Turnover

Volume spiked during the selloff from 0.1200 to 0.1100, with the largest notional turnover occurring around the 0.1105–0.1110 range during the morning hours. Despite a drop in price, turnover has remained relatively stable, indicating continued interest. A slight divergence appears between the falling price and stable turnover in the past two hours, suggesting a potential bottoming process is underway. If volume increases on an upward close near 0.1100–0.1110, it would confirm a reversal setup.

Fibonacci Retracements

On the 15-minute chart, the recent swing from 0.1214 to 0.1087 places key Fibonacci levels at 38.2% (~0.1155), 50% (~0.1150), and 61.8% (~0.1145). The price has stabilized near the 61.8% retracement level, which may act as a critical support. Daily Fibonacci levels (based on previous weekly highs and lows) suggest 0.1090 as a strong psychological floor, with potential for a 50% retracement level at ~0.1150 to reassert control if buying interest increases.

Backtest Hypothesis

A potential strategy involves entering a long position near the 61.8% retracement level (0.1145) when price breaks above the 15-minute 20-period SMA with a closing above the previous session’s high. A stop loss would be placed below the 0.1100–0.1110 consolidation cluster. Given the current oversold RSI and flattening MACD histogram, this setup may offer a favorable risk-reward profile for a short-term bounce. However, confirmation from volume and a break above 0.1110 would be needed to validate the signal.