The post Will it Drag To $0.400 Mark? appeared on BitcoinEthereumNews.com.

The Wormhole (W) token price remained in a narrow range and has been directed at low investor interest over the past few weeks. The token has dragged below its key moving averages and might lose gains ahead. If the bearish wave continues, the token might trigger a breakdown and will soon retest the downside region of $0.400. Recently, the token has faced rejection from the 20-day EMA mark, and follow on selling pressure was noted.  At press time, the Wormhole token (W) price traded at $0.541 with an intraday drop of 2.10%, reflecting neutrality on the charts. It has a monthly return ratio of -17.90% and 984.89% yearly, which implies a short-term downtrend. The pair of W/BTC is at 0.00000822 BTC, and the market cap is $974.27 Million. Analysts are bearish and suggest that the Wormhole token price may continue to lose gains and might retest the demand zone of $0.400 soon. Wormhole (W) Remained in Range: Can It Retain Strength? For the past sessions, the Wormhole (W) token price continued to erode gains and lost over 40% of gains last month. Meanwhile, the token trades near its support region of $0.500, where a significant bounce was anticipated. A break and close above the $0.650 mark can lead to a sharp rebound, and the token will bring momentum ahead. Source: Santiment On an analysis over 17 indicators, 8 indicators gave a sell signal, whereas 6 reflected the neutral sign, and only 3 indicators guided the buy call. Additionally, the uncertain price action and decline in interest guide the investor’s fear. The trading volume remained flat, with a surge of over 12.89% to $110.78 million. The Momentum Indicator (RSI) curve remained in the oversold region and directed a negative divergence on the charts. Development Activity and Social Dominance Data Outlook Amid…

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Filed under: News - @ May 16, 2024 9:14 pm