The post After Long Decline Bulls Showed Presence, Can W Rise 50%? appeared on BitcoinEthereumNews.com.

Wormhole price illustrated bullishness, with a surge of around 2.06% this week from the support of $0.3185. At press time, the Wormhole (W) price has trading at $0.35, and its market value was $639.28 Million. in terms of market cap, the Wormhole (W) ranked 98th out of the top 100 cryptos on Coinmarketcap. According to Tradingview, the price had plummeted to its ATL at $0.3185 in June 24th, 2024, at the CRYPTO exchange and has been traded 10% above. Meanwhile, its ATH was $1.80, which it reached on April 3rd, 2024; from that high, it was almost 81% down. As per Coinmarketcap, W’s volume-to-market cap ratio stood at 10.22%. That highlights comparatively low to moderate liquidity. At press time, W had a market cap dominance of 0.03%, and there was a 12.20% rise in Wormhole’s trading volume over the last 24 hours. Wormhole’s (W) Derivatives Data Evaluation! According to Coinglass, the open interest surged 2.44% in the open contracts of the W crypto. Similarly, in the past 24 hours, W recorded a strong surge of over 43.74% in the trading volume of the derivatives. W Derivatives Data Analysis | Source: Coinglass.com Furthermore, in the derivatives, W’s liquidation chart shows higher long liquidation and lesser short liquidation; it has illustrated, at the time of writing, that the price bears have more control. In the last 24 hours, more amount of longs worth $300.31K was liquidated, whereas longs worth $49.04K were liquidated. Overall, the derivatives data shows more bearishness in the price, and short liquidation has been lower, which signifies bulls’ weakness. Analysts on Wormhole (W) Price Daan Crypto shared a drawing in a Twitter post, where he stated that it could go for a decent rise for the higher levels after a breakout. $W One of those new coins that launched…

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Filed under: News - @ July 3, 2024 7:24 pm