Lokesh Gupta
07-05-2024
#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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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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