🚀 $W / USDT Analysis: Is the Bottom In? 📉
The chart for Wormhole ($W) is showing some intense price action. After a period of cooling off, we are seeing key levels being tested. Here’s the breakdown for the community:
🔍 Technical Highlights:
Support Zone: W is currently hovering around a critical support area near $0.031 - $0.032. Holding this level is vital for any bullish reversal.
RSI Check: The Relative Strength Index is trending toward the neutral/oversold zone, suggesting that the heavy selling pressure might be reaching an exhaustion point.
Trend: We are looking for a break above the local resistance to confirm a "Double Bottom" or a trend reversal pattern.
💡 Trading Thought:
If Bitcoin stabilizes, W could see a quick relief rally back toward the $0.036 resistance level. However, a break below recent lows might lead to further consolidation.
What’s your move? 🟢 Buying the dip? 🔴 Waiting for a confirmed breakout? 🟡 Just HODLing?
Let me know your price targets in the comments! 👇
#Wormhole #WUSDT #CryptoAnalysis #BinanceSquare #Altcoins $W
