Wormhole/Tether (WUSDT) Market Overview – 2025-10-12

• Wormhole/Tether (WUSDT) traded in a 24-hour range of $0.071–$0.0785, closing lower after a sharp decline mid-day.
• Volatility expanded during the early ET session, with price dropping from $0.078 to $0.074 in 3.5 hours.
• Overbought RSI levels early in the session failed to confirm bullish momentum, foreshadowing a reversal.
• A key support level emerged near $0.0712, which held through increased volume in the final 6 hours.
• Turnover spiked during the late-day rebound, but volume remained mixed with price action, showing fragmented conviction.

Price and Volume Snapshot

Wormhole/Tether (WUSDT) opened at $0.0772 on October 11, 2025, at 12:00 ET and closed at $0.0713 at 12:00 ET on October 12. The 24-hour high reached $0.0784 while the low dropped to $0.071. Total trading volume amounted to 23,002,408.15 units, and notional turnover came to approximately $1,597,187.91.

Structure & Formations

The price structure revealed two key support levels: $0.072 and $0.0712, both of which held during the final hours of the 24-hour period. A significant bearish engulfing pattern formed between 19:15 and 19:30 ET as WUSDT declined from $0.0761 to $0.0743. Later, a bullish harami pattern emerged between 09:30 and 09:45 ET, with a narrow body inside the prior candle suggesting a potential reversal. A doji candle at 04:45 ET marked a short-term exhaustion in the downward move before a modest rebound began.

Volatility and Momentum Indicators

The RSI reached an overbought level of 70 early in the session (15:30 ET) but failed to confirm a strong bullish continuation, indicating a potential reversal. Later, it moved into oversold territory at 04:00 ET, signaling possible buying interest. The MACD crossed below the signal line around 20:00 ET, confirming bearish momentum as the price declined toward $0.071. Bollinger Bands showed expansion during the early decline, reflecting increased volatility, while the narrowing of bands in the late ET hours suggested a quiet consolidation phase.

Volume and Turnover Analysis

Trading volume surged during the sharp price drop between 19:15 and 20:30 ET, with large-volume candles contributing to the bearish momentum. The highest single 15-minute volume occurred at 19:15 ET, with 2,138,393.8 units traded, coinciding with a large downward move. However, volume during the final rebound between 09:30 and 10:45 ET was moderate but showed a positive divergence in turnover despite a lack of clear price confirmation, suggesting mixed conviction among traders.

Fibonacci Retracements and Key Levels

Applying Fibonacci retracement levels to the key swing high at $0.0784 and the low at $0.071, the 38.2% level at $0.0745 and the 61.8% level at $0.0726 became critical. Price found support at the 61.8% level ($0.0726) during the late session and later tested $0.0712, which held during the final hours. These levels are likely to remain relevant in the coming 24 hours as either support or resistance depending on the direction of the move.

Backtest Hypothesis

Given the bearish engulfing and doji patterns observed, a viable backtest hypothesis could involve a short-entry strategy triggered by a bearish engulfing pattern and confirmed by a doji candle. The strategy would look to enter a short position on the close of the doji, with a stop-loss placed just above the high of the engulfing candle. A take-profit target could be set at the 61.8% Fibonacci level from the prior swing. This approach would align with the observed bearish momentum and could be tested using historical WUSDT data to assess its profitability in similar setups.