Wormhole/Tether (WUSDT) Market Overview

• Wormhole/Tether (WUSDT) surged to a 24-hour high of $0.0649 before consolidating below 0.0642.
• Momentum remains bullish with RSI above 50 and expanding Bollinger Bands.
• Volume spiked during the 14:30–16:45 ET rally, validating the breakout.
• A Doji formed near 0.0645, signaling possible exhaustion.
• Fibonacci support at 0.0635 and 0.0628 could attract buyers on pullback.

Wormhole/Tether (WUSDT) opened at $0.0621 on 2025-11-08 at 12:00 ET and closed at $0.0628 by 12:00 ET the following day. The 24-hour range was $0.0606 to $0.0649, with a close of $0.0628. Total volume was 48,853,524.0, and turnover reached $3,037,441.12. The pair saw a sharp breakout in the afternoon, capped by a bearish Doji at 0.0645.

The price structure showed a key breakout above the 0.0635–0.0642 resistance cluster. A bullish Engulfing pattern emerged at 0.0633–0.0637, followed by a large green candle with 0.0649 as the high. However, a Doji formed at 0.0645, suggesting bearish hesitation. On the 15-minute chart, the 20-period MA crossed above the 50-period MA, reinforcing bullish momentum. The 50-period daily MA is below the 200-period MA, indicating a longer-term bearish bias.

RSI climbed into overbought territory near 65, reflecting strong upward pressure, while MACD remains positive, with a bullish crossover. Bollinger Bands are wide, indicating heightened volatility after the breakout. The price closed just inside the upper band at 0.0645, suggesting a possible reversal or pullback.

Fibonacci retracements of the 0.0606–0.0649 swing identify 0.0635 (38.2%) and 0.0628 (61.8%) as potential support levels. On the 15-minute chart, 0.0630–0.0633 appears to be a critical zone for consolidation.

Volume surged during the breakout, with the highest turnover in the 14:45–16:45 ET window, particularly on the rally to 0.0649. Notional turnover in that period hit $947,799.07. Price and turnover aligned, validating the breakout. However, the Doji and declining volume after 16:45 ET may signal short-term exhaustion. A pullback to 0.0630 could test the strength of the recent bullish trend.

Backtest Hypothesis
The Bullish Engulfing pattern formed on the 15-minute chart at 0.0633–0.0637 could serve as a high-probability entry point for long positions. A backtest would look to validate the performance of a strategy entering at the open of the following candle, exiting on a close below 0.0630 (stop-loss) or 0.0645 (take-profit), based on Fibonacci levels and Bollinger Band width. Given the strong RSI and MACD confirmation, this pattern may offer a favorable risk/reward ratio, though divergence in volume post-breakout warrants caution.