Crypto markets were heavily influenced by US President Donald Trump’s comments over the weekend. On Saturday, March 21, Bitcoin (BTC) dropped below the $68k level after spending almost two weeks above it.
As a result, the altcoin market also experienced losses. Select altcoins have shown notable strength in the market, and World Liberty Financial (WLFI) was one of them. In the last 24 hours, it gained 2% in value while BTC fell by 3.22%.
Is it time to buy WLFI?
Maybe today’s traders will take a look, but not for long-term investors. The price on the 1 day chart was very difficult despite the previous 3 days of gains. The $0.095-$0.10 support, which WLFI has traded above since February, was breached on Thursday, March 19th.
At the time of writing, this delivery site was also being evaluated as a rejection. As WLFI did on the price, the volume indicators were consistent. OBV and A/D maintained their lows to indicate that selling pressure was not prevalent.
CMF was below -0.05 indicating that cash flow was high. The demand was temporary and not enough to reverse the decline in the game.
What can WLFI traders expect next week?
The symbol of World Liberty Financial reached a 23.6% increase at $ 0.0885 on Friday, 20 March. The RSI on the H4 chart recovered to 50 and is about to decline in price.
The importance of the $0.095-$0.10 supply area has already been shown. Traders can prepare for a rejection from this area and continue bearish.
Bitcoin was trading at major support and could see the price go back above $70k. This may give altcoins a short-term boost and may encourage WLFI to rise above $0.10.
Traders should keep in mind the bearish swing structure of altcoins. A break of $0.107 is required to change the H4 pattern. Until then, traders and investors can remain biased.
Brief Summary
- The World Liberty Financial index made short-term gains, but the long-term trend was a shambles.
- $0.095-$0.10 is an important area, and $0.107 should be broken to break the price.
