Market Overview for Wormhole/Tether (WUSDT): 24-Hour Analysis and Strategy Outlook

• Price opened at $0.0935, peaked at $0.0945, and closed at $0.0914.
• A sharp bearish reversal emerged after 21:30 ET, with volume surging to 4.12M.
• RSI showed overbought conditions early, but oversold conditions emerged by the close.
• Bollinger Bands constricted before 22:00 ET, then expanded as volatility spiked.
• Turnover peaked at 09:15 ET with 0.0945 high, while volume diverged downward in later hours.

The Wormhole/Tether pair (WUSDT) opened at $0.0935 on 2025-09-13 12:00 ET, reached a high of $0.0945 by 22:15 ET, and closed at $0.0914 by 2025-09-14 12:00 ET. Total volume for the 24-hour period was 28,848,479.6 Tether, with notional turnover reaching ~$2,699,999.9 at the peak.

Structure & Formations

The price formed a bearish engulfing pattern around 17:15 ET, followed by a long bearish shadow at 22:45 ET. Key resistance levels emerged near $0.0944 and $0.0938, while support levels held at $0.0920 and $0.0918. A potential double-bottom structure appeared near $0.0918–$0.0920, though the pattern remains unconfirmed without a clear breakout.

Moving Averages

On the 15-minute chart, price closed near the 50-period MA, with the 20-period MA acting as a dynamic resistance. On the daily chart, the 50-period MA at ~$0.0935 and the 200-period MA at ~$0.0941 suggest a bearish bias, with price currently below both. The 100-period MA at ~$0.0938 acts as a near-term overhead barrier.

MACD & RSI

The MACD line crossed below the signal line after 20:00 ET, indicating bearish momentum. RSI fell into oversold territory by the close, reaching ~25, suggesting a potential short-term bounce. However, the divergence between volume and price in the last four hours implies a weak short-term rebound.

Bollinger Bands

Bollinger Bands showed a contraction from 21:30 ET to 22:00 ET, followed by a sharp expansion as volatility surged. Price closed near the lower band, suggesting possible oversold conditions. A test of the upper band (~$0.0944) may confirm the continuation of the bearish trend or trigger a corrective rally.

Volume & Turnover

Volume spiked to ~4.12M Tether at 22:00 ET as price hit the high of $0.0944. However, volume declined significantly after 01:00 ET, despite continued bearish movement, suggesting waning conviction. Notional turnover peaked at ~$2,699,999.9 but diverged with price action, hinting at a potential false breakdown.

Fibonacci Retracements

Fibonacci levels applied to the swing high ($0.0945) and swing low ($0.0918) showed 38.2% at ~$0.0934 and 61.8% at ~$0.0928. Price stalled near the 61.8% level during late-night trading, indicating a potential consolidation phase. A breakout above $0.0934 could trigger a retest of $0.0938, while a breakdown below $0.0928 would confirm a move toward $0.0918.

Backtest Hypothesis

Given the bearish engulfing pattern and the oversold RSI condition near the close, a backtesting strategy could be constructed to test a short-biased approach. A potential setup would involve entering a short position on a close below the 61.8% Fibonacci level (~$0.0928), with a stop just above the 38.2% level (~$0.0934). Targets could be aligned with key support levels at $0.0920 and $0.0918. Given the volume divergence after 01:00 ET, this strategy would benefit from incorporating a time-based filter to avoid late-night false breakouts.