WIFUSDT Breaks Key Resistance — But Buyers Aren’t Showing

Summary
• Price formed a key bearish reversal pattern on the 5-min chart near $0.235–0.236.
• Volatility expanded after 03:00 ET, with volume surging above 2.1 million at 16:15 ET.
• RSI signaled overbought conditions briefly near 70 before a sharp pullback.
• Bollinger Bands showed a tight squeeze before a breakout below the midline.
• Turnover and price diverged near 06:00 ET, hinting at potential false breakouts.

The WIFUSDT pair opened at $0.238 on 2026-02-06 at 12:00 ET, reaching a high of $0.246 before closing at $0.226 at 12:00 ET on 2026-02-07. The 24-hour volume was ~20.8 million, with a turnover of ~$4.88 million.

Structure & Trends

The price action exhibited a bearish breakdown from the $0.235–0.236 resistance zone, confirmed by a bearish engulfing pattern around 05:00 ET. The subsequent decline saw a key retest of this level fail, suggesting a shift in sentiment. Daily Fibonacci levels indicate potential support at 0.228–0.229 (61.8% retracement from the 0.235–0.246 swing), with a possible short-term bounce expected if buyers step in there.

Momentum and Volatility

MACD turned negative after a morning rally, with a bearish crossover around 04:00 ET. RSI peaked near overbought levels and rapidly fell into oversold territory as the price dropped. Bollinger Bands showed a contraction before the 03:00 ET breakout, followed by a sharp expansion as volatility increased. The 20-period moving average remained above the 50-period line, suggesting a continuation of bearish momentum.

Volume and Turnover

Volume spiked significantly around 16:15 ET (20.4 million) with a turnover of ~$4.77 million, indicating a strong bearish impulse. Earlier at 06:00 ET, volume was relatively high but turnover low, suggesting price divergence that may have led to a false breakout. The final 5-minute candle at 12:00 ET showed moderate volume and a close near the lower half of the candle, reinforcing a weak near-term bias.

Forward-looking, the market appears to be consolidating below the $0.235 level, with potential for a test of $0.225–0.226 in the near term. A rebound to 0.23 could signal a short-term reversal, but a breakdown below $0.224 may accelerate the downtrend. Investors should remain cautious of low-liquidity gaps and potential flash crashes due to the pair’s sensitivity to volume surges.