$WAL: Breaks Below Critical Support: Further Drop Expected
SHORT SETUP WAL
Entry: $0.04460 - $0.04480
Stop Loss: $0.04640
Take Profit: $0.04130 (2R)
Key Levels: Support $0.03572 | Resistance $0.04476
Technical Analysis for $WAL: Price sits near the 4hour resistance of 0.04476, above the Bollinger upper band and all EMAs, while RSI sits at 88 and Stochastic K at 83, signaling overbought conditions. A short entry around 0.04450.0448 targets 0.0416, with a stop near 0.0464. Break above 0.0455 invalidates the setup. SHORT bias targets continuation toward support, with resistance as the invalidation level.
Market Context: BTC up 0.37% on the day, market breadth broadly positive with 75% of assets green.
SHORT $WAL
SHORT SETUP WAL
Entry: $0.04460 - $0.04480
Stop Loss: $0.04640
Take Profit: $0.04130 (2R)
Key Levels: Support $0.03572 | Resistance $0.04476
Technical Analysis for $WAL: Price sits near the 4hour resistance of 0.04476, above the Bollinger upper band and all EMAs, while RSI sits at 88 and Stochastic K at 83, signaling overbought conditions. A short entry around 0.04450.0448 targets 0.0416, with a stop near 0.0464. Break above 0.0455 invalidates the setup. SHORT bias targets continuation toward support, with resistance as the invalidation level.
Market Context: BTC up 0.37% on the day, market breadth broadly positive with 75% of assets green.
SHORT $WAL