- Ah, how Wormhole has danced upon the canvas of the 1-day chart, weaving a tapestry of bullish potential.
- Yet, the sacred ground of $0.07 must be zealously guarded, lest the traders’ dreams of grandeur fade like morning mist.
On a fine Tuesday, as if from the heavens themselves, the eminent U.S crypto bazaar, Coinbase, proclaimed the advent of Wormhole [W] as an SPL token upon the illustrious Solana [SOL] network. What a feather in Wormhole’s cap, one might say! A modest token with a meager $333 million market cap could find itself riding high, if only for an ephemeral moment. Yet, one can’t help but wonder—will this euphoria endure, or is it merely the hoot of a passing owl? 🦉
Lo and behold, just a week prior, Wormhole forged a strategic alliance with Ripple, joining forces in a quest to conquer the realms of multi-chain interoperability. This grand announcement, heralded on 26 June, bore a 12% price surge, like a fleeting comet across the night sky. But alas, the eternal cosmic dance of price seemed reluctant to shift toward a bullish fate.
Indeed, as revealed by the wise sages at IntoTheBlock, a staggering 89% of holders find themselves dancing in the land of “out of the money.” This brings a chill upon the heart, for any whiff of price recovery may encounter the hasty retreat of profit takers and those eager to escape at a break-even. Ah, the bulls may find the path to glory littered with obstacles and weary sellers, like an arduous trek through a snowy wilderness. ❄️
The Great Debate: Breakout or Bust? 🤔
On the fateful day of 28 June, Wormhole’s price boldly flirted with the $0.08 mark. How tantalizing! This resistance (oh, the irony of orange) once stood as a monument to local highs reached earlier in June. But alas, the grand ascent was short-lived, as W descended to fill the fair value gap at the $0.07 refuge.
Yet, the volume indicators whispered tales of a genuine market structure break, as though they had been taught by the ghost of trading past. The Chaikin Money Flow (CMF) soared to +0.09, signaling a veritable influx of capital seeking solace in the Wormhole embrace. And the On-Balance Volume? Rising like the phoenix of old! To add more weight to this audacious bullish tale, the Money Flow Index (MFI) exceeded 50, reaching a jubilant 64 – a sign that the buying fervor is kicking up dust and hoisting us towards the heavens.
Thus, dear traders, seize this moment of retracement over the past four days to acquire more Wormhole tokens. But tread softly—should the price tumble below the sacred threshold of $0.068, one might lament a failed breakout. For our spirited swing traders, let the $0.065-$0.068 region serve as the fortress for stop-losses, with the ever-elusive $0.08 and $0.091 resistances awaiting your profit-laden endeavors. 📈
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2025-07-04 10:28