Worldcoin/Tether (WLDUSDT) Market Overview

Summary
• Price drifted lower in the final hours of the 24-hour period, closing near a recent support level.
• Volatility remains elevated, with the asset forming key candlestick patterns late in the day.
• Momentum slowed as RSI approached the oversold threshold, hinting at potential near-term exhaustion.

Worldcoin/Tether (WLDUSDT) opened at 0.804 on 2025-11-08 at 12:00 ET, reaching a high of 0.827 before falling to a low of 0.782, and closing at 0.801 by 12:00 ET on 2025-11-09. Total volume over 24 hours was 37.1 million, with a notional turnover of $29.9 million. The price action shows a mix of bearish and bullish momentum, with notable intraday swings.

Structure & Formations

The price action revealed a bearish breakdown below the 0.80 level during the early hours of 2025-11-09, forming a potential bearish engulfing pattern. A strong support level emerged around 0.782, where price found a floor before rebounding. A doji formed at 0.786, suggesting indecision. The 0.805 level appears to act as a short-term resistance.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below price, indicating bearish momentum. On the daily chart, the 50-period MA is approaching the 100-period MA, but the 200-period MA remains above, suggesting a longer-term bullish bias is intact. The price appears to be approaching the 50-day MA, which could either act as support or trigger further selling if broken.

MACD & RSI

The MACD turned bearish after midday on 2025-11-09, with a negative histogram suggesting bearish momentum. RSI dropped below 30 during the session, entering oversold territory, which could signal a potential bounce. However, the slow RSI did not show a strong reversal signal, indicating caution.

Bollinger Bands

Price traded near the lower Bollinger Band for much of the session, confirming low volatility and bearish pressure. A contraction in band width occurred around 14:00 ET on 2025-11-09, followed by a price rebound suggesting the potential for a breakout.

Volume & Turnover

Volume spiked sharply during the afternoon and early evening, coinciding with the breakdown below key support and a rebound. The largest 15-minute volume was observed at 14:30 ET, where a bullish reversal occurred. Notional turnover increased in tandem with volume, confirming price movements rather than diverging.

Fibonacci Retracements

The 61.8% retracement level of the recent bullish swing from 0.782 to 0.827 is around 0.805, aligning with current price action. A break below 0.790 could bring the 0.782 level into focus again as a potential base for a rebound.

Backtest Hypothesis

The data indicates potential for a backtesting strategy targeting the Bullish Engulfing candlestick pattern. This pattern, which occurred at 14:30 ET and 21:00 ET, could serve as a high-probability buy signal. A one-day holding strategy post-signal could be evaluated using daily OHLCV data. To proceed, we would need to:
- Confirm a working data source for WLDUSDT (e.g., an exchange suffix).
- Backtest the strategy from 2022–2025 to assess profitability and risk metrics.
- Analyze win/loss ratios, maximum drawdowns, and performance against buy-and-hold.

Price may attempt to retest the 0.805 level in the next 24 hours, with a potential rebound if RSI shows a strong reversal. However, bearish momentum remains intact, and a break below 0.790 could trigger further selling. Investors should remain cautious and watch for divergence in volume and momentum indicators.