Summary
•
traded in a narrow range, showing consolidation below 0.0346–0.0349.
• Volume surged after 00:00 ET as price tested prior lows.
• RSI hovered in oversold, suggesting potential for a short-term rebound.
• A bearish engulfing pattern formed near 0.0346 during late ET trading.
• Bollinger Bands remained compressed, hinting at a potential breakout.
Wormhole/Tether (WUSDT) opened at 0.035 on December 28 at 12:00 ET and closed at 0.0346 on the following day. The price reached a high of 0.0351 and a low of 0.0339. Total volume stood at 10,209,615.0 with a turnover of 353,816.35.
Structure & Formations
Price remained range-bound between 0.0345 and 0.0351 for much of the 24-hour period, with no clear trend. A bearish engulfing pattern emerged at 0.0346 following a brief rebound, signaling potential bearish momentum. A small doji formed near 0.0343 late in the session, hinting at indecision among traders as support levels were tested.
Moving Averages and Momentum
On the 5-minute chart, the 20-period moving average crossed below the 50-period line, suggesting bearish bias. The daily chart showed a flat 50-period MA with the price hovering around it. RSI remained in oversold territory for much of the session, which could indicate a short-term rebound, though bearish control appears firm. MACD showed weak positive divergence but failed to confirm a reversal.
Volatility and Bollinger Bands
Bollinger Bands remained narrow for most of the session, pointing to low volatility. A sharp move below the lower band occurred around 12:15–12:30 ET as price tested 0.0341. This contraction may precede a breakout, but with no clear directional bias, it remains uncertain.
Volume and Turnover
Volume spiked after 00:00 ET as price moved lower, with the largest single 15-minute volume spike occurring at 12:15–12:30 ET. Turnover also surged during this period, confirming bearish momentum. However, price and turnover diverged in the final hours, with price failing to follow through on strong volume, indicating possible exhaustion or uncertainty.
Fibonacci Retracements
Key Fibonacci levels from the 0.0351–0.0339 swing included 0.0347 (38.2%) and 0.0343 (61.8%). Price briefly rejected at 0.0343, suggesting it could be a strong support level. A break below this level could trigger a retest of 0.0339.
Looking ahead, WUSDT may consolidate near 0.0343–0.0346 in the next 24 hours, with a test of 0.0339 looming as a key risk for downside extension. Investors should remain cautious as volatility remains low and momentum signals are mixed.
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