Wormhole/Tether (WUSDT) Market Overview

• WUSDT closed 0.1152, down from 0.1177 at 12:00 ET-1, trading in a 0.1143–0.1217 range.
• A bearish trend is reinforced by a breakdown below 0.1180 and waning momentum.
• Volatility expanded during the early trading session, followed by consolidation.
• Turnover surged to $122.8M in late ET hours, aligning with a price rebound.
• No strong reversal patterns formed; price remains below key moving averages.

Wormhole/Tether (WUSDT) opened at 0.1177 on 2025-09-20 12:00 ET, reaching a high of 0.1217 and a low of 0.1143 before closing at 0.1152 on 2025-09-21 12:00 ET. Total volume across the 24-hour period was 182,574,480.80, with a notional turnover of approximately $20,898,113.85. The pair has shown bearish bias, with a prolonged decline and a recent failed attempt at a rebound.

On the 15-minute chart, WUSDT has tested key support levels at 0.1173 and 0.1160, with 0.1143 appearing to hold as a critical short-term floor. Resistance is now likely to remain above 0.1180–0.1185, where multiple closes and volume spikes suggest strong selling pressure. Notable candlestick formations include a hanging man and bearish engulfing patterns, both appearing near the 0.1180–0.1185 range. A doji formed at 0.1157–0.1161, suggesting a potential moment of indecision after the morning dip.

The 20-period and 50-period moving averages on the 15-minute chart are below the current price, aligning with the bearish momentum. The daily 50-period and 200-period moving averages are also well above the current level, indicating a continued downtrend. MACD has crossed below the signal line, with a bearish divergence in the daily chart RSI, which remains in oversold territory at 28. Bollinger Bands have expanded during key price dips, suggesting increased volatility, with the current price near the lower band, reinforcing a continuation bias.

Volume and turnover spiked after the 0.1143 low, particularly in the 07:45–08:45 ET time frame, which saw a rebound to 0.1203. However, the price failed to close above 0.1180, and turnover declined after that. Using Fibonacci retracement from the 0.1217 high to the 0.1143 low, the current price sits just below the 61.8% level at 0.1162, suggesting the pair could find support or trigger a short-term rebound at that level.

A forward-looking view suggests WUSDT could test the 0.1143–0.1150 area as the primary support, with a potential bounce toward 0.1162–0.1175 if buyers step in. However, a breakdown below 0.1140 could accelerate the move toward 0.1125. Investors should be mindful of the risk of further consolidation below 0.1160, which could delay any short-term recovery.

Backtest Hypothesis

Given the observed bearish momentum and failed rebound above 0.1180, a mean-reversion strategy based on Fibonacci levels and Bollinger Band contractions appears testable. A potential backtest could involve entering short positions upon a close below the 61.8% Fibonacci level (0.1162) with a stop-loss above the 50-period moving average (approximately 0.1178). A take-profit could be set near the 0.1143 level, with position sizing adjusted by volatility using ATR. This hypothesis aligns with the observed price behavior and divergence in momentum indicators.