Market Overview for Wormhole/Tether (WUSDT): October 29, 2025

• Wormhole/Tether (WUSDT) declined over 24 hours, closing below 0.0707 after a sharp drop from 0.0731.
• Momentum slowed in late ET hours, with RSI signaling oversold levels near 0.0694–0.0684.
• Volume surged after 20:00 ET, confirming bearish pressure.
• Price retested 0.0705–0.0707 range multiple times, failing to break decisively.
• Bollinger Bands widened in late session, indicating increased volatility.

The Wormhole/Tether (WUSDT) pair opened at 0.0726 on October 28 at 12:00 ET and closed at 0.0707 on October 29 at the same time, with a high of 0.0731 and a low of 0.0684 during the 24-hour period. Total volume traded was 29.8 million USD, and estimated turnover reached approximately 2.11 million USD. Price action showed a bearish bias, marked by several large bearish candles and a consolidation pattern near the 0.0705–0.0707 support zone.

Structure & Formations

WUSDT displayed a bearish trend with a key support zone forming around 0.0705–0.0707, where the price repeatedly found buyers but failed to reclaim higher ground. A long bearish candle formed on October 28 at 19:45 ET, signaling strong selling pressure. A potential bearish engulfing pattern was visible as the price moved from a high of 0.0731 to a low of 0.0695 over a few hours. A doji formed near 0.0702, suggesting indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a bearish alignment, with the 20-period line crossing below the 50-period line, indicating a potential continuation of the downtrend. On the daily chart, the 50-period and 200-period moving averages were in a bearish crossover, reinforcing the short-term bearish bias. The 100-period MA offered limited support at ~0.0715, but the price failed to hold there.

MACD & RSI

The MACD line crossed below the signal line, confirming a bearish momentum shift. The histogram showed a contraction in the morning hours but expanded sharply in the late session, indicating accelerating bearish momentum. The RSI dropped below 30 by October 29 at 15:45 ET, signaling an oversold condition. However, the failure to rebound above 50 suggests exhaustion may not yet be enough to reverse the trend.

Bollinger Bands

Bollinger Bands expanded significantly in the late hours of October 28 into the early hours of October 29, reflecting heightened volatility. Price action remained within the bands, but a few candle closes near the lower band suggest oversold conditions. A contraction in the bands occurred earlier in the session but failed to trigger a reversal, indicating the market remained under pressure.

Volume & Turnover

Volume surged in the late evening hours, particularly between 19:30 ET and 20:45 ET, coinciding with the largest bearish candles and price declines. Turnover also increased, confirming the bearish sentiment. However, volume and turnover dipped after 02:00 ET, suggesting a potential pause in selling pressure. A divergence in volume during the 0.0705–0.0707 consolidation hinted at weakening bearish conviction.

Fibonacci Retracements

A key 61.8% Fibonacci retracement level was observed around 0.0705–0.0707, where price found temporary support multiple times. The 38.2% level at ~0.0715 was tested but failed to hold. On the daily chart, the 61.8% retracement from the prior high (~0.0731) also aligned with the 15-minute consolidation range, reinforcing the significance of this level.

Backtest Hypothesis

Given the observed RSI oversold conditions, a potential backtesting strategy would involve identifying periods when the RSI for WUSDT dips below 30 and remains there for a defined period (e.g., 3–5 consecutive 15-minute candles). A buy signal could then be triggered at the close of the next candle, with a stop-loss placed below the recent low and a take-profit target set at the nearest Fibonacci resistance. This strategy could be tested over a larger historical dataset to evaluate its effectiveness in a low-liquidity or stablecoin-pegged asset like WUSDT, provided the correct ticker symbol is used.