Trade Analysis #29: $WLD
As I said in my previous post on WLD, pump-driven rallies are not sustainable. The price eventually dropped to $2.0 but has currently rebounded to the $2.30 level.
Let's break down a few possible scenarios for what might happen next:
1. $2.0 might act as a solid support level, with the price forming several lows around this point before potentially embarking on a bullish run.
2. If the $2.0 support level fails to hold, the price could seek support at the $1.70 level or even lower. Exercise caution if this scenario unfolds.
3. Occasionally, the price might experience a bullish rally above $3.25, challenging the resistance levels at $3.50 and $4.10. This is more likely to occur if overall market sentiment, especially for BTC, shifts significantly more bullish.
That's it for today $WLD Trade Analysis. I hope this short analysis help you make smarter trade decision.
Trade Smarter! Peace Out ;)
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