WOO/Tether Market Overview: Mixed 24-Hour Action and Oversold Momentum

• WOOUSDT declined to a 24-hour low of $0.0645 before recovering slightly toward $0.0654.
• Price action shows consolidation amid a 2.2% range with a bearish bias from midday ET.
• Volume spiked during the rebound but failed to confirm sustained bullish momentum.
• RSI and MACD suggest oversold conditions, hinting at potential short-term reversals.
• Bollinger Band contraction near $0.0649 implies possible volatility expansion ahead.

WOO/Tether (WOOUSDT) opened at $0.0654 on 2025-09-22 12:00 ET, peaked at $0.0675, dipped to a 24-hour low of $0.0645, and closed at $0.0654 by 12:00 ET on 2025-09-23. The 24-hour volume totaled approximately 24,645,776.0 units, with a notional turnover of $1,621,801. The pair has shown a bearish bias during the afternoon and evening hours but has seen some rebounding late into the night.

Structurally, key support levels appear at $0.0645, $0.065, and $0.0642, while resistance is forming around $0.0656 and $0.066. A notable bearish engulfing pattern formed during the 2025-09-22 23:00–23:15 window, suggesting bearish continuation potential. A doji at $0.0651 in early hours hinted at indecision, but a subsequent green candle with high volume suggests some short-term bullish conviction.

Moving averages on the 15-minute chart show a cross above the 20-period MA at $0.0652 and a 50-period MA at $0.0653, indicating neutral to slightly bullish bias. On the daily chart, the 50- and 200-period MAs suggest a bearish trend. The 50-period daily MA stands at $0.0649, while the 200-period MA is at $0.0646, indicating downward momentum could persist unless a strong reversal occurs.

MACD has turned bearish with a negative histogram and a slow bearish crossover, while RSI hit an oversold level near 30 during the late evening, indicating a potential bounce near $0.0649–0.0651. Bollinger Bands have been tightening since the 03:00 ET time window, pointing to a possible breakout or breakdown in the next 24–48 hours. The price recently tested the lower band at $0.0645 and may find support at the 61.8% Fibonacci retracement level of $0.0648.

Volume and turnover saw a significant increase during the 21:00–21:30 ET time window, with a 580k-unit candle and $39k turnover. This coincided with a move from $0.0661 to $0.0669, indicating strong buying pressure. However, this rally failed to extend beyond $0.0672, and subsequent volume has declined, suggesting a lack of follow-through. Divergences between price and volume were observed near $0.0655, where price moved higher without a corresponding volume increase.

Backtest Hypothesis
A potential strategy could involve entering a long position on a bullish breakout above the 61.8% Fibonacci level of $0.0648, with a stop-loss placed below $0.0645. A short position may be triggered on a breakdown below $0.0642, with a target at $0.0637. MACD and RSI conditions could be used as filters to confirm the breakout or breakdown before entry. Given the current volatility contraction and oversold RSI, a reversal-based strategy focusing on the $0.0649–0.0651 range may offer favorable risk-reward in the next 24 hours.