$W/USDT has shown signs of life after a prolonged downtrend. With a 17.39% surge to $0.0702, the big question is whether this is just a relief rally or the start of something bigger.
From a technical standpoint, the price is currently trading below the 99-day MA ($0.0829), but has managed to break above the 7-day and 25-day MAs. Strong momentum and oversold conditions make the bullish prospects more appealing.
However, it's essential to note that the long-term trend is still downtrend, and volume confirmation is needed to ensure a trend reversal.
Target Levels:
- $0.085: Re-test of MA 99 and resistance area
- $0.11: Major horizontal resistance level
- $0.165-$0.18: Strong liquidity pocket
Risk Factors:
- Long-term trend is still downtrend
- Volume confirmation is needed
- Risk of rejection at resistance levels
trading strategy:
- Short-term traders can look for entries above $0.071-$0.073 with a tight stop-loss below $0.066
- Mid-term traders need to wait for confirmation of price above MA 99
$W/USDT is showing signs of awakening, but it's still in a speculative phase. Further analysis and volume confirmation are needed to ensure a trend reversal.
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