Worldcoin/Tether (WLDUSDT) Market Overview for 2025-10-08

• Price declined from a peak of $1.228 to a 24-hour low of $1.169, closing near $1.176
• Momentum weakened as RSI dipped below 30, indicating potential oversold conditions
• Volatility surged after 10 PM ET, with a sharp drop to $1.169 and rebound to $1.188 within 30 minutes
• Volume increased significantly during the selloff, showing active bearish pressure
• Bollinger Bands widened during the decline, highlighting increased market uncertainty

The price of Worldcoin/Tether (WLDUSDT) opened at $1.216 at 12:00 ET on 2025-10-07 and dropped to a 24-hour low of $1.169 before closing at $1.176 as of 12:00 ET on 2025-10-08. The total trading volume over the period was 41.6 million, with a notional turnover of approximately $51.4 million. The price action reflects heightened volatility and bearish sentiment during the overnight session.

Structure & Formations

The 24-hour candlestick chart shows a bearish structure, with a strong decline occurring between 11:30 PM and 12:00 AM ET. A large bearish candle formed during this time, indicating aggressive selling. Key support appears to have been tested at $1.169, while resistance has shifted to $1.193. A potential bearish engulfing pattern was observed during the sharp drop, signaling continued downside pressure. The formation suggests further correction could occur if the $1.169 level breaks.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart have dipped below the price, confirming the bearish shift in momentum. On the daily chart, the 50-period MA is approaching $1.20, with the 200-period MA around $1.23. Price is currently below both, reinforcing the bearish bias. A potential retest of the 50-day MA may occur, but it appears unlikely to hold in the near term.

MACD & RSI

The RSI has dropped below 30, suggesting oversold conditions, though this may not necessarily trigger a reversal. MACD lines have turned negative, with the histogram showing a wide bearish divergence. Momentum remains on the decline, and while a short-term bounce is possible, the broader trend appears to favor further downward movement.

Bollinger Bands

Bollinger Bands expanded during the overnight selloff, reflecting heightened volatility. Price briefly broke below the lower band at $1.169, which could either act as a trigger for a rebound or indicate a new support level. If the lower band holds, a test of the $1.169 level could provide an entry for short-term longs. However, bearish continuation is more probable given the volume and price action.

Volume & Turnover

Volume spiked significantly during the selloff, especially from 11:30 PM to 12:00 AM ET. Notional turnover reached $1.2 million during this period, suggesting institutional or algorithmic selling. The divergence between the drop in price and the increase in volume supports the bearish narrative. However, a subsequent increase in volume during the rebound to $1.188 shows some buyer interest, though not yet strong enough to reverse the trend.

Fibonacci Retracements

Applying Fibonacci to the overnight swing from $1.228 to $1.169, key levels include 38.2% at $1.199 and 61.8% at $1.185. Price appears to have found short-term support at $1.185, which aligns with the 61.8% retracement. This level may hold in the short term, but given the strong bearish momentum, a retest of the 50% level at $1.181 could occur.

Backtest Hypothesis

A potential backtesting strategy could focus on short trades triggered by the bearish engulfing pattern at $1.205 and confirmed by the drop below $1.193. Stops could be placed above $1.205, with initial targets at $1.185 and $1.176. The RSI dip below 30 and the divergence in MACD could also serve as dynamic exit triggers for short positions. This approach aligns with the observed price action and volatility, offering a data-driven entry and exit framework for the next 48 hours.