Key Insights:
- WLFI forms a cup and handle pattern, indicating a potential 50% price rally ahead.
- Increased trading volume suggests strong buying pressure and investor confidence in WLFI’s growth.
- Analysts predict WLFI could see a significant breakout, with positive market sentiment supporting its future.
World Liberty Financial (WLFI) is seeing a growing interest as it completes a key technical pattern. The cryptocurrency has formed a cup and handle chart pattern, which suggests a potential rally in its price. Traders are watching closely for the next move in WLFI’s market behavior. The current price of WLFI is $0.1704, and it has shown a 4.76% increase in the past 24 hours.
WLFI Shows Strong Technical Pattern
Recently, WLFI completed a well-formed cup and handle pattern, a technical chart formation that is often seen as a bullish signal. According to analyst Elja, this pattern indicates that the cryptocurrency is preparing for a significant upward move.
Elja noted “Price reclaimed levels and is now aiming for new higher highs”. This suggests that WLFI might experience strong upward momentum in the coming days.
WLFl Strong Technical Pattern | Source: XThe cup and handle pattern is characterized by a rounded bottom (the cup) followed by a consolidation phase (the handle). This setup indicates that the cryptocurrency has gone through a period of consolidation and is now preparing for a potential breakout. The target for the rally could be around 50%, which would bring WLFI to new levels not seen in recent weeks.
Trading volume and market sentiment signal a rally
In addition to the technical pattern, WLFI has seen a significant increase in trading volume. As indicated by Finora AI, a bullish volume spike, with trading volume increasing 4.3 times the average in just one hour. “Strong buying pressure is pushing the price up,” said Finora AI in their update. The spike in volume suggests that investors are becoming more confident in the asset’s potential.
This sharp rise in price and volume is drawing attention from traders who see the potential for further gains. The volume anomaly shows that the market is responding positively to the chart pattern and price movements.
Market sentiment around WLFI remains positive, with many traders watching for the next potential breakout. The completion of the cup and handle pattern, combined with the increase in volume, suggests that WLFI could see a significant price surge. Traders are hopeful that this pattern will lead to a rally, making WLFI a cryptocurrency to watch closely in the coming days.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/wlfi-forms-perfect-cup-and-handle-pattern/
