WAL Rises 5.26% to $0.10 but Remains in Bearish Downtrend
WAL (WAL/USDT) climbed about 5.26% to $0.0957–$0.10 on 24‑hour volume near $11.7M, yet technicals show the token remains in a broader downtrend. Price sits below major moving averages (EMA200 $0.1684, EMA50 $0.1347, EMA20 $0.1192) and the daily trend is classified as downtrend. Momentum indicators are oversold (RSI 30.4; Stochastic ~19.8/13.4) while MACD remains bearish. Key support levels: $0.0931 and $0.0845 (deeper target $0.0330); resistances: $0.0973 and $0.1034 (critical R2). Volatility measures (ATR 0.0113) and Bollinger position (lower half) indicate limited upside momentum. Analysts note a short‑term bounce is possible from oversold conditions, but the bias stays bearish unless price breaks and holds above $0.1034–$0.1099. BTC is noted higher in the session (~$78,903, +1.87%) but described as bearish in context. This is a technical market update — not investment advice.
Bearish
The update describes WAL trading higher intraday but firmly below key moving averages (EMA200/EMA50/EMA20) with bearish MACD and only oversold momentum (RSI, Stochastic) providing a possible short-term bounce. Price remains beneath critical resistance at $0.1034–$0.1099; until WAL breaks and holds above those levels, the technical structure favors lower prices and potential retests of supports at $0.0931 and $0.0845 or the deeper $0.0330 target. Volume is moderate (~$11.7M) and volatility metrics (ATR, Bollinger position) suggest limited conviction behind the rise. This pattern—small relief rally inside a larger downtrend with oversold indicators—is commonly bearish for traders: it often produces short-lived bounces followed by resumed selling pressure unless trend‑confirming breakouts occur. Short term: traders should expect choppy action and consider tight risk management; long term: structural downtrend implies lower probability of sustained upside unless fundamental catalysts or substantial volume shifts emerge.