#Wormhole token gained significant attention upon its launch but faced persistent bearish pressure shortly after, leading to notable price fluctuations.
The token experienced a steep decline of over 64% following its introduction.
Analysis of the daily chart reveals the emergence of a Three Black Soldiers pattern.
Upon analyzing the 4-hour chart, it's evident that W has been trading within a consolidation channel for an extended period.
Traders might consider initiating long positions if Wormhole breaches the resistance level at $0.7800, anticipating a breakout from the consolidation channel.
According to Coingabbar analysis, Conversely, if bears maintain dominance, the price could lose momentum and fall towards the support level of $0.500 in the upcoming week.
KEY LEVELS :
RESISTANCE LEVEL : $0.7800-$0.9200
SUPPORT LEVEL : $0.5500-$0.4500
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