Bearish Trendline Caps Recovery as Support Zone Holds Near $0.20
The World Liberty Financial (WLF1USD) market is currently showing signs of pressure as prices hover around $0.2018, down more than 26% from recent highs. Despite repeated attempts to recover, the token remains capped by a descending resistance trendline, while buyers defend the critical demand zone near the $0.20 mark.
The 4-hour chart highlights a clear bearish structure, with lower highs forming since late September. A rejection from the $0.23–$0.24 supply zone triggered a broader correction, pushing the asset back toward its established support areas.
“The $0.20 support is crucial right now. If this level breaks decisively, we could see a quick move back to the $0.18 demand zone,” According to BITX market analysts. “However, sustained buying could stabilize the price and open the door for another retest of $0.22.”
Technical Breakdown
- Current price: $0.2018 (-0.49%)
- Resistance zone: $0.23–$0.24 (supply area)
- Immediate support: $0.20 (key demand zone)
- Lower support: $0.18 (secondary demand zone)
- Trendline: Strong downward slope since September highs
Trading volume has decreased compared to earlier spikes, reflecting hesitation among market participants. The failure to break above the descending trendline suggests that bearish momentum is still in control. However, the repeated defense of the $0.20 level shows that buyers are actively protecting this zone.
In the near term, the $0.20 line remains the battleground between bulls and bears. A clean breakout above the downward trendline could shift sentiment, allowing the market to challenge resistance near $0.22 and eventually $0.24. Conversely, losing the $0.20 support may accelerate a move toward $0.18, where fresh demand could emerge.
“It’s a consolidation phase with clear supply and demand levels. Traders should watch for volume confirmation before expecting a strong directional move,” According to BITX strategists.
Overall, World Liberty Financial remains in a cautious zone, with technical signals pointing to short-term uncertainty until a breakout or breakdown confirms the next major move.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.