Wormhole/Tether (WUSDT) Market Overview as of 2025-11-03

• Price dropped from $0.0659 to $0.0597 over 24 hours, showing bearish pressure.
• Key resistance appears near $0.0658, while support is forming around $0.0590–$0.0600.
• High volatility seen between 22:45 ET and 00:00 ET, coinciding with large volume spikes.
• RSI and MACD show weakening momentum, indicating possible continuation of the downtrend.
• Volume and turnover diverged in the final hours, signaling caution for near-term reversals.

The Wormhole/Tether (WUSDT) pair opened at $0.0659 (12:00 ET − 1) and closed at $0.0597 by 12:00 ET. The 24-hour range reached a high of $0.0662 and a low of $0.0538. Total volume across the 24-hour window was approximately 101,092,795.9, while notional turnover reached $5,954,728.9. The pair appears to be in a bearish phase with no immediate reversal signals.

Structure & Formations

Price action over the last 24 hours suggests a bearish breakdown from key resistance levels. A significant swing high was observed at $0.0662 (00:15 ET), followed by a decisive breakdown to key support levels in the $0.0590–$0.0600 range. A large bearish engulfing pattern formed around 22:45 ET, signaling renewed bearish momentum. Multiple doji and narrow-range candles between 02:00 and 05:00 ET indicate potential consolidation or indecision.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages show a clear bearish crossover, reinforcing the downward bias. The daily chart also reflects a bearish alignment between the 50, 100, and 200-period moving averages. Price remains below these key averages, suggesting that short-term and medium-term bearish sentiment is entrenched.

MACD & RSI

The MACD line turned sharply negative after the 22:45 ET candle, with the histogram expanding to confirm bearish momentum. RSI fell into oversold territory (below 30) during the final hours, but failed to produce a bullish divergence — a red flag for false oversold signals. Momentum remains intact in the short term.

Bollinger Bands

Price moved through a wide Bollinger Band channel in the early part of the 24-hour period, indicating high volatility. By the morning hours, volatility contracted, with price trading within a narrow range between the 0.0610 and 0.0620 level. The subsequent breakdown below the lower band confirmed the bearish narrative.

Volume & Turnover

Volume spiked dramatically around 22:45 ET (6,381,962.6 volume units), coinciding with a key breakdown candle. However, in the final 6 hours of the 24-hour window, while price continued to decline, volume and turnover declined significantly, raising concerns about a potential bear trap or exhaustion of the current downward wave.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing high (0.0662) and low (0.0538) shows that the pair has reached the 61.8% retracement level near $0.0590. This could serve as a potential area of support or reaccumulation. If the price breaks below 0.0590, the next key level would be 0.0561 (78.6% retracement), which could trigger further bearish sentiment.

Backtest Hypothesis

The failure to generate reliable technical indicators for WUSDT highlights the need for careful validation of trading symbols and data sources. Given the potential for mislabeling or unavailability of niche ticker pairs, a more robust backtesting strategy would involve first confirming the correct symbol across major exchanges and historical data feeds. For example, if the correct symbol is "WUSDT-USD" or "wUSDT-USD," the pattern detection and indicator generation could be retried. If not, a more general strategy (e.g., bearish engulfing on USDT-USD) could be applied to test the viability of short-term reversal signals, as described in the provided backtesting strategy. This highlights the importance of accurate data alignment before executing live or backtested strategies.