Foreign media reports that World Liberty Financial's token, WLFI, rebounded significantly after finding support around $0.053, rising approximately 8% in a single day, accompanied by increased trading volume. The article suggests this indicates renewed buying activity, but the price remains within its nearly two-month trading range. Whether it has truly strengthened depends on whether the upper resistance level can be effectively broken.
The $0.053 area has provided support multiple times.
Looking at the daily chart provided in the article, WLFI has been consolidating for nearly two months after its previous decline. During this period, it encountered selling pressure repeatedly in the $0.053 to $0.054 range, with buying activity emerging each time it fell back to this area. The latest rebound has formed a strong bullish candle, indicating that demand at lower levels remains.
The article mentions that the current resistance zone is around $0.062 to $0.063. Since May, WLFI has repeatedly encountered resistance in this area, and the price has consistently failed to hold above it, making this the most crucial level in the short term.
Trading volume increased, and momentum has recovered somewhat.
Foreign media believe that a positive sign of this rebound is the significant increase in trading volume, indicating a recovery in market participation. Meanwhile, the RSI has risen above 60, showing stronger momentum than before, but it has not yet entered an extremely overheated range.
The article also mentions that the current trading area is near a zone of high trading volume. This typically indicates that there has been significant turnover within this price range. If the price manages to break out of this area, liquidity may shift to a higher resistance level, potentially amplifying volatility.
The market is focused on whether the price can hold above $0.063.
- Near-term resistance is between $0.0620 and $0.0635.
- The next target area is $0.0800.
- The next resistance level is at $0.0967.
- Near-term support is between $0.0535 and $0.0545.
- The main support level is at $0.0510.
- If the daily chart breaks below $0.0530, the current rebound structure will be weakened.
Foreign media believe that a breakout signal can only be considered valid if the WLFI daily closes above $0.0635, potentially opening up space towards the $0.08 area. If it continues to encounter resistance, the price will likely remain range-bound and retest the $0.053 to $0.054 range.
