Price has been grinding under that descending trendline for days, and every push into the 0.114–0.116 area keeps getting sold. Currently sitting on the lower supporting trendline. If this level breaks, it could open the door for a sharper drop to the downside. Even if we see a short bounce from here, there’s strong resistance above around the red zone + EMA. That area is likely to act as a ceiling. So either we lose support and drop, or we bounce first… then face rejection at resistance. Keep an eye on it. DYOR, NFA #WLFI #CryptoTrading
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$WLFI is starting to look heavy here.
Price has been grinding under that descending trendline for days, and every push into the 0.114–0.116 area keeps getting sold.
Currently sitting on the lower supporting trendline.
If this level breaks, it could open the door for a sharper drop to the downside.
Even if we see a short bounce from here, there’s strong resistance above around the red zone + EMA. That area is likely to act as a ceiling.
So either we lose support and drop, or we bounce first… then face rejection at resistance.
Keep an eye on it.
DYOR, NFA
#WLFI #CryptoTrading