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The Wormhole token has recorded a notable gain today, with an 8.52% price increase as of the time of writing. Based on current price movements, there may be more bullish activity developing in this market. Let’s examine it more closely below.
W Statistics
Current Price: $0.08126
Market Capitalization: $373.26M
Circulating Supply: 4.7B
Total Supply: 10B
CoinMarketCap Rank: 143
Key Price Levels
Resistance: $0.09000, $0.1000, $0.1500
Support: $0.08000, $0.07500, $0.07000
Wormhole Pumps Toward a Key Resistance
Today’s trading session has brought bullish momentum to the W token on the daily chart. Price action is currently heading toward the midline of the Bollinger Bands (BB) indicator. As of writing, the current session’s candle appears strong and healthy, with a long green body and very small upper and lower shadows—indicating solid buying pressure.
Although the token is still trading below the middle band of the BB indicator, the trajectory looks promising. Additionally, the Stochastic Relative Strength Index (SRSI) indicator lines show a sharp upward movement toward the 50 level. This suggests that bullish activity remains dominant in the market. Nevertheless, intraday traders should proceed with caution, as volatility may still pose short-term risks.
W Eyes More Gains (4-Hour Chart)
On the Wormhole 4-hour chart, bullish pressure remains evident. The latest price candle is strongly bullish, with a large green body. The Bollinger Bands are also beginning to tilt slightly upward, indicating early signs of trend development.
Interestingly, the latest candle has pushed the token above the upper band of the BB indicator—a potential signal of short-term overextension. Meanwhile, the SRSI indicator has just made an upward crossover below the 50 level, and the lines are now heading upward toward the midpoint.
Given these conditions, traders may eye potential near-term targets around the $0.08500 and $0.09000 resistance levels.
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