Wormhole/Tether (WUSDT) Market Overview for October 3, 2025

• Price action on WUSDT saw a significant late-day reversal with a bearish trend shifting back to bullish after midday.
• Strong volume spikes in the final 6 hours indicate increased buying interest and potential accumulation.
• RSI showed overbought conditions near 70, followed by a pullback, suggesting short-term corrections may be in play.
• Bollinger Bands showed expansion during the afternoon, indicating increased volatility and potential for trend continuation.
• A key resistance level was tested and confirmed around 0.1135–0.1155, with price breaking through twice and holding on the second attempt.

Wormhole/Tether (WUSDT) opened at 0.1108 at 12:00 ET–1 and traded as low as 0.1096 before surging to a high of 0.1184, closing at 0.1191 as of 12:00 ET. The 24-hour volume amounted to 61,332,166.2 units, while total notional turnover reached approximately 7,287,033.62 (USD equivalent). The price exhibited a sharp upward move in the late afternoon, supported by increasing volume and strong candle formation.

Structure & Formations

Price action revealed a clear bullish reversal after a prolonged bearish phase, marked by a series of higher lows and higher highs between 14:30 and 15:00 ET. A bullish engulfing pattern appeared at 14:30 ET, confirming the reversal after price tested the key support level of 0.1127. A strong hammer formed at 0.1096–0.1102 between 01:15 and 01:30 ET, signaling a potential bottom. The formation was followed by a steady rally. Notably, a doji formed at 04:30 ET, hinting at indecision before a renewed upward thrust.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed over in the early afternoon, forming a golden cross, which is typically bullish. By the end of the 24-hour period, the 20SMA stood at approximately 0.1155, while the 50SMA was at 0.1137, with price comfortably above both. On the daily chart, the 50DMA crossed above the 100DMA around the previous session, supporting a broader upward trend.

MACD & RSI

The MACD crossed above the signal line around 14:30 ET, confirming a bullish momentum shift. The histogram expanded during the rally, aligning with price action. RSI surged to overbought territory (around 73) during the 14:30–15:00 ET rally, then pulled back to neutral territory, suggesting a temporary pause but not a breakdown. Divergence between the RSI and price was not observed, indicating that momentum remained in line with the price.

Bollinger Bands

Volatility expanded significantly after 14:30 ET, with the upper band reaching 0.1184. Price action closed near the upper band, indicating strong upward momentum. The bands were wide throughout the afternoon, suggesting a period of high volatility that could continue. The middle band sat at 0.1152, while the lower band remained around 0.1123, offering a potential support line for the next session.

Volume & Turnover

Volume spiked sharply during the 14:30–15:00 ET hour, with a 20.5 million unit trade confirming the bullish breakout. The surge in volume matched the price move, reinforcing the authenticity of the trend. However, turnover was relatively modest during the late-night consolidation, suggesting limited participation. The divergence between late-night volume and price indicated possible short-term fatigue, but this was followed by strong accumulation in the afternoon.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 14:30–15:00 ET swing, 0.1135 marked the 38.2% level, while 0.1154 aligned with 61.8%. Price found immediate support at 0.1135 before rebounding and closing near 0.1191, indicating strong institutional buying at key Fibonacci levels. On the daily chart, 0.1184 (high of previous session) marked a potential resistance zone, with the 61.8% retracement at 0.1153 offering a short-term support level.

Backtest Hypothesis

A potential backtest strategy could involve entering long at the confirmation of the bullish engulfing pattern with a stop-loss just below the prior swing low at 0.1127. A target could be set at the 61.8% Fibonacci level at 0.1153, with a broader exit at the upper Bollinger Band. Momentum indicators like MACD and RSI would serve as filters for trade confirmation and exit signals. Given the high volume during the breakout, this setup appears valid for a short-to-medium-term bullish bias.