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Wormhole Token / Jito Staked SOL

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WJITOSOL_4M8MH8.USD trade ideas

continued to trade in a consolidation rangeWormhole price has illustrated a slight bull presence this week after a long decline, with a surge of around 2.06% this week from the support of $0.3185. At press time, the Wormhole (W) price has traded at $0.35, and its Market value stands at $639.28 Million. At press time, the W has been trading at the daily charts lowest levels. Since the April 3rd, 2024 peak price of $1.80, the price has been deteriorating and has formed a support at $0.5312 by Mid-April 2024. Thereon, the price continued to trade in a consolidation range from mid-April to mid-June for almost two months, then bear pressure increased more, and the price fell deeper, up to $0.3185. In the last couple of sessions, it has shown some bulls presence, and if the price rises, then it could reach up to $0.5313 resistance. On the contrary, if the bearishness continues, then the price could plummet more, as well. Indicator: the crypto has been showing mixed signals, with the 50-day EMA pushing W below and RSI recovering from oversold at 38.06, while MACD showed a bullish cross in negative territory below the zero line.
CRYPTO:WUSDLong
by Yash_Jain_1309
Wormhole Crashed Below All time Low!Wormhole Crashed Below All time Low! Wormhole took the biggest hit this week losing over 34.07%. The weakness in the broader market impacted the price severely causing it to break below all time low value of 0.54 on 11th June. At the time of writing, the W crypto price was exchanging hands close to $0.455 recording a swift intraday gain of 1.12%. It is a leading interoperability platform which powers the multichain application and bridges at scale. Currently, the wormhole crypto has dropped below the recent support of $0.50 and is showing no signs of recovery. The price may continue to fall until it reaches a strong demand zone. As per the current price action, the short term as well as the long term trend has turned bearish which may drag the price towards south in the upcoming weeks until it is maintained below $0.50 level.
CRYPTO:WUSD
by Ritika_TCR
Wormhole may encounter possible obstaclesEven with the consolidation, the overall market outlook for Wormhole remains somewhat optimistic. As of the press time, the price was at $0.61650, reflected a 2.04% intraday increase, and has a market value of $1.09 billion. Wormhole may encounter possible obstacles in the near future at $0.65 or $0.70, and in the long run at $0.90 or $1.15. These levels could indicate regions where selling pressure may increase, leading to possible temporary pauses or reversals in the momentum of price. On the other hand, short-term support could be identified at $0.55 or $0.50, while long-term support levels would be at round numbers such as $0.40 or $0.30. Similarly, the W crypto asset is showing a consolidation of bullish momentum and an upward trend while it remains close to the key EMA's (20-day, and 50-day). Similarly, the Wormhole cryptocurrency is indicating MACD above the zero line, indicating a gradual increase in bullish momentum. Additionally, the RSI is currently at 50.76 and is on track to surpass the 14-day Simple Moving Average from below, indicating that there is further potential for growth in the W asset.
CRYPTO:WUSDLong
by Yash_Jain_1309
1
W crypto may experience a significant surgeThe W crypto (Wormhole) has been in a devastating fall and has been in a bearish trend, the chart showcases the bear's dominance strongly. Likewise, the W crypto chart showed this week's decline of -45.51% and this month's of -62.36% respectively. However, the W crypto has revealed a sign of possible recovery coming soon on the daily chart, as the price showed sustenance gestures at a possible crucial support level of around $0.45500 on the chart. W crypto may experience a significant surge from its current support level. This is because the bulls are ready to break through the resistance level and could soar to new heights from the current support zone. Currently, W crypto is seeing an increase of 6.27% in the past 24 hours and is being traded at $0.5775 at this moment of writing. Therefore, if the demand for the W price increases from the current support, it could bounce back remarkably. The next target for the price could be to reach $0.9000 and $1.1600. In case the price value of W crypto is unable to remain above the level of $0.45500, it may experience a further decrease.
CRYPTO:WUSDLong
by Yash_Jain_1309