1. Main funds are suspected to be exiting, the spot market lacks sustained support, 24H drop of -0.88%, bears are gradually taking the initiative, and downside risk is prominent.
2. 1-hour MACD (9,26) has formed a bearish crossover and is trending downward, bearish momentum bars are continuously expanding, and weak characteristics below the zero axis are clear.
3. RSI(14) is at 43, in a neutral-to-bearish range, showing a downward turn with insufficient bullish support and no rebound signals.
4. Price has broken below the MA20 support, volume is shrinking simultaneously, weak price-volume coordination verifies the sustainability of the downtrend.
Support levels:
1. $0.1480 (recent consolidation low)
2. $0.1430 (Fibonacci 0.618 support)
Resistance levels:
1. $0.1570 (24H high)
2. $0.1610 (MA30 resistance)
Suggested take profit: $0.1480, stop loss: $0.1570
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$WLFI Current price: $0.1535
Direction: Bearish
Reasons:
1. Main funds are suspected to be exiting, the spot market lacks sustained support, 24H drop of -0.88%, bears are gradually taking the initiative, and downside risk is prominent.
2. 1-hour MACD (9,26) has formed a bearish crossover and is trending downward, bearish momentum bars are continuously expanding, and weak characteristics below the zero axis are clear.
3. RSI(14) is at 43, in a neutral-to-bearish range, showing a downward turn with insufficient bullish support and no rebound signals.
4. Price has broken below the MA20 support, volume is shrinking simultaneously, weak price-volume coordination verifies the sustainability of the downtrend.
Support levels:
1. $0.1480 (recent consolidation low)
2. $0.1430 (Fibonacci 0.618 support)
Resistance levels:
1. $0.1570 (24H high)
2. $0.1610 (MA30 resistance)
Suggested take profit: $0.1480, stop loss: $0.1570