Market Overview for Wormhole/Tether (WUSDT): 24-Hour Technical Update

Summary
• Price drifted lower from 0.0435 to 0.0412, with bearish engulfing and consolidation patterns visible.
• Volume remained mixed, peaking at 2.1M at 17:00 ET, but no strong divergence seen in price vs. turnover.
• RSI and MACD suggest weakening momentum, with price near 20-period MA on 5-min chart.
• Volatility remains elevated as price trades below the lower Bollinger Band.

Wormhole/Tether (WUSDT) opened at 0.0435 on 2025-12-09 12:00 ET, reached a high of 0.0448, a low of 0.0407, and closed at 0.0412 by 12:00 ET on 2025-12-10. Total volume over the 24-hour period was approximately 75.6 million, with a notional turnover of $3.12 million.

Structure & Formations

Price formed bearish engulfing patterns at key intraday highs, particularly around 17:15 ET and 10:15 ET, signaling potential exhaustion in bullish momentum. A series of lower highs and lower closes has reinforced a descending bias. A 0.0425 support level appeared resilient, but a break below 0.0415 could trigger further testing of the 0.0410 level.

Moving Averages

On the 5-minute chart, price has closed below the 20-period MA (0.0423) and the 50-period MA (0.0421), suggesting short-term bearish control. On the daily chart, the 50-period and 200-period MA are expected to align around 0.0428–0.0432, forming a potential dynamic resistance zone.

MACD & RSI

MACD has remained below the zero line with a flattening histogram, indicating waning bearish momentum. RSI has declined into the 35–40 range, suggesting a potential oversold condition. However, a bounce may face early resistance around 0.0420–0.0425.

Bollinger Bands

Volatility has expanded as price has traded near the lower band for most of the session. A contraction in the band width is not yet evident, but if price consolidates within a narrower range in the coming hours, a breakout attempt could follow.

Volume & Turnover

Volume has remained inconsistent, peaking at 2.1M around 17:00 ET and again at 13:45 ET, but without strong price confirmation. Turnover aligned with volume and showed no divergence from price action, suggesting liquidity is broadly in line with directional movement.

Fibonacci Retracements

Recent 5-minute retracements from the 0.0435–0.0448 range place the 0.0430 level at 38.2% and 0.0423 at 61.8%. If price continues to fall below 0.0412, the 50% retracement of the broader 0.0435–0.0407 move is at 0.0416, suggesting further support could be found there.

Price may find near-term direction based on volume behavior around key Fib levels and whether the 0.0415–0.0420 range can stabilize. Investors should monitor the 20-period MA as a potential trigger for short-term bounces or renewed bearish momentum. A sharp break below 0.0410 could signal a new phase of downward pressure.