Walrus (WAL) has attracted strong market attention, with WAL/USDT trading near $0.0602, up approximately 57.5% in 24 hours, according to the supplied Binance data.
đ 1H Chart: Strong Momentum, But Watch Resistance
On the 1-hour chart, WAL is trading above all three moving averages:
MA(7): $0.05592
MA(25): $0.04716
MA(99): $0.03990
This alignment indicates strong short-term bullish momentum. However, the price is approaching the $0.06428 resistance level, the reported 24-hour high. A confirmed breakout could support further upside, while rejection may trigger profit-taking.
đ 1D Chart: Broader Trend Remains Strong
The daily chart also shows a bullish structure, with WAL trading above its moving averages:
MA(7): $0.03937
MA(25): $0.03636
MA(99): $0.02897
This suggests that the broader trend is positive. However, the sharp recent rally means volatility and a potential correction should not be ignored.
đŻ Key Levels to Watch
Resistance: $0.06428
Near-term support: $0.05592
Additional support: $0.04716
A sustained move above resistance could strengthen the bullish case. A drop below near-term support may signal weakening momentum.
đ Final Outlook
WAL's 1H and 1D charts currently favor the bullish side, but a 57% daily rally makes chasing the price risky. Traders may prefer to wait for a confirmed breakout or a controlled pullback before making a decision.
Will WAL break above $0.06428, or will profit-taking take over?
This article is for informational purposes only and is not financial advice. Cryptocurrency trading involves significant risk.
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