The post WAL Technical Analysis Feb 6 appeared on BitcoinEthereumNews.com.

WAL dropped sharply by 6.15% in the last 24 hours to the $0.08 level, triggering an RSI of 27.60 indicating the oversold region – is this an opportunity for bottom hunters or a victim of Bitcoin’s dominant downtrend? Market Outlook and Current Situation The WAL market is having a tough day in the shadow of the selling wave in the overall crypto ecosystem. With the current price stabilizing at the $0.08 level, the 24-hour change was -6.15%, and trading volume reached $24.57 million. The daily range is squeezed between $0.07 – $0.09, indicating high volatility but a direction clearly focused downward. As the downtrend becomes dominant, WAL’s short-term outlook is pessimistic; however, the increase in volume signals that selling is intensifying and could indicate potential base formation. In the general market context, altcoins are being crushed in Bitcoin’s shadow. WAL continues to stay below the EMA20 ($0.11) in recent weeks, maintaining its bearish short-term structure. Multi-timeframe (MTF) analysis identified 12 strong levels: 1 support/2 resistances on 1D, 2S/2R on 3D, and 3S/3R confluences on 1W. These levels emphasize that if WAL tests the critical $0.0683 support, it could open the door to a deeper correction. While the volume increase reflects panic selling, as detailed on our WAL spot analysis pages, liquidity flows are worth monitoring. Market sentiment is focused on technical factors in an environment where news flow is calm. While WAL’s tokenomics structure and ecosystem developments are supportive in the long term, it needs a strong catalyst to break the short-term downtrend dominance. The 6% loss in the last 24 hours signals the end of the altcoin rally, but oversold conditions keep recovery hopes alive. Technical Analysis: Key Levels to Watch Support Zones The most critical support level stands out at $0.0683 (strength score: 70/100), showing strong confluence across…

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Filed under: News - @ February 6, 2026 12:31 pm